India Rolls-Royce deals \\\'on hold\\\'
Tuesday, 4 March 2014
India has put on hold all deals with Rolls-Royce till it completes an investigation into bribery allegations against the Britain-based company, the Press Trust of India news agency said. A federal agency is probing allegations that Rolls-Royce paid bribes for supply of aircraft engines. Rolls-Royce said it would "cooperate fully" with Indian authorities. The company is the world's second biggest manufacturer of aircraft engines. India's defence ministry had put on hold all "existing and future" contracts with Rolls-Royce pending the results of an investigation by the country's Central Bureau of Investigation (CBI) into the purchase of jet fighter engines in a deal worth $1.6bn (£960m), according to BBC.