Monday, April 16, 2012

India Debuts Integrity Clause With $43-mil Fine On IMI

India debuted the invocation of penalties on an integrity pact in a defence contract, by confiscating a $43-million (Rs 224-crore) bank guarantee from Israel Military Industries (IMI). The contract was for an ammunition factory in Nalanda, in Eastern India. IMI, incidentally, has decided to fight its blacklist in court.

12 comments :

Anonymous said...

India repeatedly hurts those who help it, and fuel those who hurt it! India has no sense of conscience or survival, no military and political sense, little sense of foreign policy, and has a limited personality such that it can't play in the big league of nations.

Anonymous said...

@Anonymous 2:51
You seem to run high on emotions and low on knowledge.

Mr. S said...

No one is a friend and no one is helping us. the help is cos we pay.. it is dumb to think no one else will help us if we pay them. arms trade is purely business. kick out the rotten apple, use the good ones and find better apple if we should. We were late to start in missile tech, space tech, nuclear tech etc.. but we are catching up now. Similarly we will catch up with other military techs too no matter what. Kick out all the corrupt companies... "St. Antony" don't know how many is with you but definitively I am with you.

Prasad said...

To Anon@2:51 PM
That's plain bashing. The right path should be followed & no concessions should be given to these companies. They are all businessmen, not friends. If not A, then B. Else we make it ourselves.
India does not fear anybody!

Joy said...

India shouldnt have done this to the Israelis of all the people. We dont have a better ally then them. India's ad-hoc enforcement of regulations and penalties will hurt her badly. I kind of suspect a foreign hand involvement, the one across our eastern border.

Mr. Ra said...

Alas! Russia and Israel are our only remnant friends. No wise man is supposed to put his house on the fire to drive away the rats.

Anonymous said...

I still dont see ANY penalty being imposed on the OFB in all this mess. In fact they have been rewarded for their malpractice with more money...

I have to agree with the previous poster, our behavior leaves us little room on the international table. No one wants to be friends with the school dunce.

Contrast us with China, who copies designs and backstabs manufacturers wholesale. Yet companies from all over the world still flock to them because they can still make money. In India, we dont make money (expect the babu's), cant properly copy designs and dont allow outside help to function in our corrupt environment.

Yet we wonder why we are still a laughing stock

«« hAdez »» said...

Thanks for the link to the pact. :)

Anonymous said...

and like many other fiascos the ultimate humiliation will be when the court sides with companies leaving the government in its usual mess. The MMS govt has become quite an expert at this from Cell phones to Asian games to retail to Defense.

But in an evil way calling this bluff is good.. ultimately that kick in court will help the paper pushing babu-dom out of its complicated and slow backroom politics in acquisition policy into a more open and fair field for both domestic and international private firms. That is the best road ahead and hopefully this will escalate into a catalyst for change.

Anonymous said...

but we should not forget that both russia and israel are also selling weapons to china for them it is purely business

Shadow said...

wrong decision..Israelis are helping us and we are punishing them.

godanov said...

Nations do not have friends they have interests.