World Bank asks Satyam to prove credibility

By siliconindia   |   Tuesday, 17 February 2009, 17:31 IST   |    9 Comments
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World Bank asks Satyam to prove credibility
New Delhi: The World Bank ban on staggered Satyam Computers may be reviewed if the company can once again prove its credibility in business. Satyam has to show that it has again become a responsible vendor to do business with, for lifting the eight year ban, according to a World Bank official. The company was banned earlier from doing World Bank projects on charge of data theft and bribing the bank's officials. "The vendor would have to demonstrate that corrective action had been taken to address the original causes of the ineligibility and the actions should substantiate that Satyam is again a responsible vendor to do business with bank," opined the World Bank official from Washington. Since Satyam has got a new board and management, the company has a strong case for a review of the ban.

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