01-13-2009, 04:01 AM
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Now, World Bank blacklists Wipro, Megasoft</b>
pioneer.com
S Rajagopalan | Washington
Itâs not Satyam alone that has been debarred by the World Bank. The Washington-based multilateral financial institution on Monday disclosed that it has also blacklisted two other major Indian IT firms â Wipro Technologies and Megasoft Consultants.
In a public listing of the debarred companies and individuals, the World Bank also revealed the blacklisting of two other Indian entities â <b>Nestor Pharmaceuticals and Gap International â and an individual, Surendra Singh.</b>
<b>Wipro and Megasoft have been debarred for four years, while Satyam has been banished for eight years. </b>
Like Satyam, Wipro has been accused of providing improper benefits to World Bank staff, while<b> Megasoft has been charged with participating in a joint venture with Bank staff even while conducting business with the Bank</b>. All three companies were involved in different contracts and their debarments are not related.
It turns out that the action against Wipro became effective in June 2007 and that against Megasoft in December 2007.
<b>The debarring of New Delhi-based Nestor took place in July 2007 and is effective for three years. The action against Gap International and Surendra Singh is âpermanentâ and was taken back in April 2001.</b>
<b>A World Bank statement said that from now on it will make public the names of all the companies that have been debarred from receiving direct contracts from the Bank group under its corporate procurement programme</b>.
<b>âThis change was made in the interest of fairness and transparency</b>,â the Bank said, adding that henceforth, it would publicly list the companies debarred from receiving direct contracts from the Bank Group under its corporate procurement programme.
The Bank said the move aligns its disclosure practices for companies involved in wrongdoing that work on development projects financed by the World Bank and those that provide goods and services directly to the institution.
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pioneer.com
S Rajagopalan | Washington
Itâs not Satyam alone that has been debarred by the World Bank. The Washington-based multilateral financial institution on Monday disclosed that it has also blacklisted two other major Indian IT firms â Wipro Technologies and Megasoft Consultants.
In a public listing of the debarred companies and individuals, the World Bank also revealed the blacklisting of two other Indian entities â <b>Nestor Pharmaceuticals and Gap International â and an individual, Surendra Singh.</b>
<b>Wipro and Megasoft have been debarred for four years, while Satyam has been banished for eight years. </b>
Like Satyam, Wipro has been accused of providing improper benefits to World Bank staff, while<b> Megasoft has been charged with participating in a joint venture with Bank staff even while conducting business with the Bank</b>. All three companies were involved in different contracts and their debarments are not related.
It turns out that the action against Wipro became effective in June 2007 and that against Megasoft in December 2007.
<b>The debarring of New Delhi-based Nestor took place in July 2007 and is effective for three years. The action against Gap International and Surendra Singh is âpermanentâ and was taken back in April 2001.</b>
<b>A World Bank statement said that from now on it will make public the names of all the companies that have been debarred from receiving direct contracts from the Bank group under its corporate procurement programme</b>.
<b>âThis change was made in the interest of fairness and transparency</b>,â the Bank said, adding that henceforth, it would publicly list the companies debarred from receiving direct contracts from the Bank Group under its corporate procurement programme.
The Bank said the move aligns its disclosure practices for companies involved in wrongdoing that work on development projects financed by the World Bank and those that provide goods and services directly to the institution.
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