Snehesh Alex Philip, Deputy Editor, heads the defence, strategic and foreign affairs vertical. He joined ThePrint in January 2019. Snehesh can be reached at snehesh.philip@theprint.in
This is a strange report which muddies waters without either agreeing or refuting the Hindu. . The Hindu makes two related points, that the demand for sovereign or bank guarantee was shelved in favourof a letter of comfort which has no legal basis. Second, the suggestion to make payments through an Escrow account to ensure payments against performance of the contract was also dropped. This report quoting unnamed sources says that the amount is to be paid into an account with rhe French National Bank, which is nothing but an escrow account . If this is true why not directly refute the Hindu instead of this convoluted explanation. Moreover, there’s nothing called French National Bank. If you mean Banque de France, say so. . Evidently this seems to be a subtle attempt to undermine the report from the Hindu.
As one had submitted a couple of days back, this is a “ hybrid “ deal, a blend of what is designated G to G but where the IAF for all practical purposes is dealing with Dassault, as it has done for at least forty years. Hopefully, the CAG will examine the various facets and give its definitive findings and conclusions.
This is a strange report which muddies waters without either agreeing or refuting the Hindu. . The Hindu makes two related points, that the demand for sovereign or bank guarantee was shelved in favourof a letter of comfort which has no legal basis. Second, the suggestion to make payments through an Escrow account to ensure payments against performance of the contract was also dropped. This report quoting unnamed sources says that the amount is to be paid into an account with rhe French National Bank, which is nothing but an escrow account . If this is true why not directly refute the Hindu instead of this convoluted explanation. Moreover, there’s nothing called French National Bank. If you mean Banque de France, say so. . Evidently this seems to be a subtle attempt to undermine the report from the Hindu.
As one had submitted a couple of days back, this is a “ hybrid “ deal, a blend of what is designated G to G but where the IAF for all practical purposes is dealing with Dassault, as it has done for at least forty years. Hopefully, the CAG will examine the various facets and give its definitive findings and conclusions.