Graft in Chopper Deal Proven: Italian Court
Court says cash, Mauritius bank money went to ex-IAF chief; Tyagi says he wants to see translated court papers before commenting BJP Wants Debate on Agusta Deal
New Delhi: An Italian court said there was “reasonable belief that corruption took place” in the 2010 VVIP helicopter deal and that former Indian Air Force chief SP Tyagi was involved. The court said it was “validly proven” that a part of $10-15 million in illicit funds made their way to Indian officials.
The 225-page judgement by the Milan Court of Appeals, accessed by ET, has a separate 17-page chapter on Tyagi that explained the grounds on which it came to the conclusion on the corruption of the “Indian public officer”.
“The destination — at least partial — of the illicit funding to the payment of the price of corruption of Marshal Shashi Tyagi for his intervention in favour of AgustaWestland for the VVIP helicopters competition is validly proven,” the court observed. The text was translated from the original Italian.
Tyagi did not respond to a detailed questionnaire sent by ET. “We should wait to read the full translated document before reacting,” he said. The former air chief has always maintained his innocence in the case. Court said it was that a part of
in illicit funds made their way to Indian officials
There has been a marked slowdown in GMV as companies cut down on discounts to build healthier margins and stronger balance sheets. Money is proving harder to come by, too, as investors tighten purse strings and push the larger Internet companies to cut down on burn rates. The Indian ecommerce industry’s annualised GMV run-rate plunged to about $15 billion (about Rs1lakh crore) in March from about $20 billion in October, according to data collated by RedSeer Consulting, an emerging marketsfocussed research and advisory firm. The New Delhi-headquartered Snapdeal recorded GMV of $4 billion in August, when Bahl said in an interview to ET that he was “very, very clear (that)... we’re going to be No. 1 by March 2016. I think we’re going to beat Flipkart by then”.
Snapdeal, which counts Japan’s SoftBank, China’s Alibaba and Taiwan’s Foxconn as investors, would have had to at least double its GMV to achieve that, given that Flipkart had declared in June that it was aiming for GMV of $10-12 billion in 9 months to a year. Flipkart had achieved gross sales of $4 billion in 2014-15.
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