World Bank debars 5 Indian entities

World Bank debars 5 Indian entities
PTI
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First Published: Mon, Jan 12 2009. 09 30 AM IST
Updated: Mon, Jan 12 2009. 07 20 PM IST
New Delhi: Even before the dust settled on the controversy involving Satyam’s debarment, the World Bank on Monday revealed that action has been taken against a total of five entities in India, including Wipro Technologies, and an individual.
The action was initiated against these entities and individual as they were found to have “violated the fraud and corruption provisions of the Procurement Guidelines or the Consultant Guidelines,” besides offering improper benefits to Bank staff.
Megasoft became the third Indian software vendor to have attracted the Bank’s ire, while Nestor Pharmaceuticals and Gap International were non-IT entities. An individual Surendra Singh was barred from doing business with the Bank for violating guidelines.
While Wipro was barred for four years beginning June 2007 for “providing improper benefits to Bank staff”, Megasoft barred for an identical period beginning December 2007 for “participating in a joint venture with Bank staff while also conducting business with the Bank.”
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First Published: Mon, Jan 12 2009. 09 30 AM IST