Tuesday, 31 July 2018

India fines Lockheed for not fulfilling offset duties

SOURCE: ECONOMIC TIMES Amid differences over fulfilling offset obligations, the defence ministry has encashed a part of the bank guarantee given by US aerospace manufacturer Lockheed Martin for a special operations aircraft deal. The penalty – a little less than $ 5,00,000 – was imposed for alleged violation of terms and conditions for the Rs 4,000-crore deal that was signed in […]

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