account
search
search

Singapore firm banned from Indian defense contacts

  |   March 22, 2012 at 5:31 PM
SINGAPORE, March 22 (UPI) -- Singapore Technologies Kinetics has been banned from doing business with India's Defense Ministry.

Singapore Technologies ST Kinetics was blacklisted following initial investigations of corruption conducted by India's Criminal Bureau of Investigation of former Ordnance Factory Board Director General Sudipta Ghosh.

In a Board of Trade report, Singapore Technologies Kinetics expressed concern over the fairness of the legal process surrounding its implication in the Ghosh corruption case. Singapore Technologies Kinetics stated its dismay that it was now prohibited from doing any defense business with India's Ministry of Defense and all of its agencies, and not just the military's defense procurement agency as the company had hoped.

Singapore Technologies Kinetics can still legally challenge the blacklisting and await a court ruling on arbitration, The Business Times reported Thursday. No charges have been brought against Singapore Technologies Kinetics.

In the interim, Singapore Technologies Kinetics has accordingly filed three petitions in the Delhi High Court to overturn the blacklisting decision on three tenders it had entered into with Indian defense authorities.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
x
Feedback