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World Bank gives Satyam's projects to TCS
By siliconindia
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Saturday, 07 February 2009, 22:43 IST |
7 Comments
Bangalore: The World Bank has awarded some of its projects, most of which were previously being done by Satyam, to Tata Consultancy Services as Satyam was debarred by the bank from doing business with it. "We have hired Tata Consultancy Services (TCS) to do much of the IT work that Satyam used to do," said a World Bank spokesperson.
The new development seems to be refuting the allegations that the World Bank is specifically targeting Indian IT companies. The bank had revealed that three Indian IT companies - Satyam, Wipro and Megasoft Technologies - have been debarred from doing business with it. Early last year, TCS had bagged much of the Satyam's project through competitive bidding.
Apart from the aforesaid three, two Indian non-IT companies - Nestor Pharmaceuticals and Gap International - and an individual namely Surendra Singh have been debarred by the global apex monetary institution 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 the Bank staff.
Totally, the World Bank has debarred as many as 111 companies and individuals from across the world from doing or bidding for its projects. Out of the total 111 firms and individuals, at least four U.S. companies and five American nationals have been blacklisted.
