The Anil Ambani-led firm Reliance Naval Engineering (RNEL) is four years behind its schedule to supply five offshore patrol vessels (OPVs) to the Indian Navy. But, the Modi government has still not cancelled the contract. This delay has led the naval authorities to encash the bank guarantees given by Reliance Naval Engineering.
Navy chief Admiral Sunil Lanba was responding to a query on whether action has been taken against the Anil Ambani-promoted company for overshooting the deadline.
However, the question remains as to why the government had not cancelled the contract as it had done with other companies in the past whenever the delivery was delayed. Read More