Even before the dust settled on the controversy involving Satyam's debarment, the World Bank today revealed that action has been taken against a total of five entities in India, including Wipro Technologies, and an individual.
Even before the dust settled on the controversy involving Satyam's debarment, the World Bank today revealed that action has been taken against a total of five entities in India, including Wipro Technologies, and an individual.
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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."
As per the Bank, Wipro has beenexcluded for four years till 2011 from getting direct contracts for providing improper benefits to Bank staff.
Whereas, another IT firm Megasoft has been prohibited for four years from 2007 from getting direct contracts for participating in a joint venture with Bank staff while also conducting business with the Bank.
"Our inability to get future business from World Bank will not adversely affect our business and results of operations," Wipro said in a statement.
Megasoft officials too said that the debarment will not have no revenue implication for the company.
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