Mbda

The Defence Ministry has imposed a fine of less than 1 million euros on European missile maker MBDA for delay in fulfilling its offset obligations under the Rafale aircraft deal, sources said on Wednesday.

Corporate lobbyist Deepak Talwar diverted Rs 90.72 crore received from French aerospace company Airbus SAS and UK-based arms manufacturer MBDA for non-mandated purposes by booking bogus expenditures in his NGO's books of account through forged documents, the Enforcement Directorate has told a Delhi court.

Ahead of handing over of the first Rafale jet to India, European missile maker MBDA has said that the aircraft with the most advanced weapons package comprising of Meteor and Scalp missiles will provide the country unrivaled deep strike capability and air dominance in the region.

Germany's defence ministry on Tuesday told lawmakers it would not complete a contract with European weapons maker MBDA for a multi-billion euro missile defence system during the current legislative period as planned, ministry sources said.

French Defence Minister Jean Yves Le Drian is set to arrive in Delhi on September 22 along with CEOs of Dassault Aviation, Thales and MBDA to seal the 7.87 billion euros deal for 36 Rafale fighter jets.

An Indo-French proposed joint venture expected to be worth around Rs 30,000 crore to develop short range air defence missiles seems to have run into rough weather as the Indian Air Force feels that its requirements could be met by indigenous Akash surface-to-air missile weapon system.

A Cabinet Committee on Security (CCS) meeting chaired by Prime Minister Manmohan Singh today cleared the deal to procure 490 MICA missiles manufactured by French firm MBDA, Defence Ministry sources said.

The Defence Ministry has imposed a fine of less than 1 million euros on European missile maker MBDA for delay in fulfilling its offset obligations under the Rafale aircraft deal, sources said on Wednesday.

Corporate lobbyist Deepak Talwar diverted Rs 90.72 crore received from French aerospace company Airbus SAS and UK-based arms manufacturer MBDA for non-mandated purposes by booking bogus expenditures in his NGO's books of account through forged documents, the Enforcement Directorate has told a Delhi court.

Ahead of handing over of the first Rafale jet to India, European missile maker MBDA has said that the aircraft with the most advanced weapons package comprising of Meteor and Scalp missiles will provide the country unrivaled deep strike capability and air dominance in the region.

Germany's defence ministry on Tuesday told lawmakers it would not complete a contract with European weapons maker MBDA for a multi-billion euro missile defence system during the current legislative period as planned, ministry sources said.

French Defence Minister Jean Yves Le Drian is set to arrive in Delhi on September 22 along with CEOs of Dassault Aviation, Thales and MBDA to seal the 7.87 billion euros deal for 36 Rafale fighter jets.

An Indo-French proposed joint venture expected to be worth around Rs 30,000 crore to develop short range air defence missiles seems to have run into rough weather as the Indian Air Force feels that its requirements could be met by indigenous Akash surface-to-air missile weapon system.

A Cabinet Committee on Security (CCS) meeting chaired by Prime Minister Manmohan Singh today cleared the deal to procure 490 MICA missiles manufactured by French firm MBDA, Defence Ministry sources said.