He, along with Parliamentary Affairs Venkaiah Naidu, rejected the opposition demand for Supreme Court-monitored probe, protesting which Congress staged a walkout.
Replying to a debate in Rajya Sabha on the controversy surrounding the Rs 3600 crore deal for 12 VVIP helicopters, Parrikar said there was "relentless push" by the UPA to go in for the AgustaWestland choppers.
Later, ED did not act on the FIR till July 2014, he said.
"It appears an invisible hand was guiding action or inaction of CBI and ED," the Minister said.
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Noting that a probe was already underway, he said, the "inquiry will focus on roles of those named in the judgement of Italian court.. Government will leave no stone unturned in bringing to justice those involved in the scam."
the Defence Ministry has written to both ED and CBI to take into account contents of the judgement and conclude the investigations expeditiously," Parrikar said.
He added that the Defence Ministry is initiating the process of blacklisting the companies concerned and for legal proceedings for recovery of damages.
Beginning his speech by promising to not take names so that there is no disturbance, the Defence Minister mentioned an anecdote of Birbal related to a "theft" to suggest that the Congress was unnerved, fearing the truth would implicate it.
"The country wants to know who instigated, supported and benefited from the corruption. We cannot let this pass," Parrikar said.
"A litany of omissions and commissions at various stages of the decision making process indicate malafide and corrupt actions, driven by a goal to favour a particular vendor," the Defence Minister said.
Hitting out at the UPA government, he said the field trials of the chopper were conducted in Italy even though it was necessary for it to be held in Indian conditions.
Parrikar said the helicopter offered by AgustaWestland was still in "development stage" and hence the trials were conducted on a different helicopter.
Parrikar said even though the reports of wrongdoings and unethical conduct by Finmeccanica, the parent company of AgustaWestland had surfaced in 2012, followed by arrest of its CEO, the action of putting on hold all procurement cases with the accused group of companies in pipeline was approved by Antony only on May 12, 2014 towards the fag end of the its government.
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Parrikar also quoted from a file about IAF's noting about chopper flights in Gulmarg and Srinagar, which he said was "luckily saved from devastating fire" on June 3, 2014.
Parrikar alleged that instead of taking action against the company, the UPA wrote to the external affairs, embassy and the court.
"It took nearly two years to cancel the contract and too primarily as a response to an arbitration request by the supplier. In fact the delivery of the first three aircraft could have been avoided," he said.
The Minister also alleged that choppers were bought at inflated prices and no realistic basis for price negotiations was provided.
Mincing no words, Parrikar alleged that IDS Infotech, one of the companies selected for offsets, was used as a conduit for bribe money.
He said that at various stages from March 2005, despite specific directions to the contrary, requirements were changed and processes influenced to make AgustWestland the "only alternative".
Parrikar said "unusually large number of deviations approved, counter-party to supply agreements and exceptional dilution of FET standards".
As Parrikar was reading out his reply from a prepared
text, Congress members raised objections but Kurien ruled that a Minister has all the right to read from a prepared speech.
Sharad Yadav (JD-U) said, "I have no objection to the written statement. I have problem with the lengthy statement."
He said the reply should be short as the whole country is listening to his reply. "If he wants to keep it lengthy, let him lay it on the table."
To this, Parrikar said that the reply will be lengthy if he had to respond to all points raised by the Opposition during four-hour debate.
Leader of Opposition Ghulam Nabi Azad also said, "The Minister can read out. This is four and half hour discussion. All members have put their view points. Now, the minister is reading. It is insult. If he has to read it out, he should have circulated it."
To this, Parliamentary Affairs Minister Venkaiah Naidu said, "This is a short duration discussion. It is normally for two and half hours. Since everyone wanted to speak, the time was extended. If the minister wants to share all information, he can speak for an hour. Truth is unfathomable. Ex-minister speaks for one hour, Parrikar has spoken only for 25 minutes."
To this, the Chair said, "If minister is misleading, you can invoke the rule."
After the minister's reply, Azad said his party leaders are facing allegations.
"May be BJP must be indulging in propaganda. It is a matter of safety of our country. My hopes were belied. The Minister made the worst kind of speech. Entire speech was rebuttal. It was full of allegations without facts and denegrade the House. This is insult to the House," he said.
Tapan Sen of CPI(M) said the CBI probe, which is going on, should be monitored by the Supreme Court.
Azad also then said the probe should be Supreme Court-monitored.
To this, Parrikar said the CBI has already made a lot of progress in the probe.
Naidu, also while rejecting the demand, said that when the probe by CBI was without any monitoring by the Supreme Court during the UPA rule, how could Congress ask for it now.
Unhappy with this, the Congress members then staged a walkout.