The Indian Ministry of Defence (MoD) has extended suspension of business dealings with M/s Vectra Advanced Engineering Pvt. Ltd (VAEPL) (now M/s VERT Equipment Private Limited) for a period of six (6) months w.e.f. 14.02.2024 in terms of the “Guidelines of the Ministry of Defence for penalties in business dealing with entities’.
Noteworthy, earlier with the approval of Defence Minister Shri Rajnath Singh, business dealings with M/s Vectra Advanced Engineering Pvt. Ltd. (VAEPL) (now VERT Equipment Private Limited) were suspended for a period of one year (vide MoD ID Note of even No. dated 14.08.2020) with effect from 14.08.2020 in terms of Para D2 of the ‘Guidelines of the Ministry of Defence for penalties in business dealing with entities’ issued vide MoD ID note No. 31013/2016-D(Vig) dated 21.11.2-16.
The above period of suspension was reviewed under extant provision with the approval of Defence Minister, the period of suspension was extended by six-six months w.e.f. 14.08.2021, 14.022.2022, 14.08.2022, 14.02.2023 & 14.08.2023 vide MoD ID No. 31022/1/2020-D(Vig) dated 03.09.2021, 10.01.2022, 10.08.2022, 07.03.2023, & 16.08.2023 respectively.
The period of suspension of business dealings with VAEPL has furher been reviewed under extent provisions and with the approval of Defence Minister, the period of suspension has been further extended by six months beyond14.02.2024 in terms of Para D3 of the MoD Guidelines dated 21.11.2016.
Source: https://mod.gov.in/sites/default/files/Extension_suspecnsion_Vectra.pdf
