World Bank bars Wipro, Megasoft from business deals

World Bank gests cautious, bars Wipro, Megasoft from business deals With the financial fracas created by Satyam, the World Bank said it has decided to debar Indian software vendors Wipro as also Megasoft from directly doing business with the bank group under its corporate procurement programme, taking the number of large vendors debarred by it to three.The Bank had announced debarment of Satyam Computer on December 25. "This change was made in the interest of fairness and transparency," the Bank said in a statement.

This change aligns the disclosure practice for companies that provide goods and services directly to the Bank with the current policy governing procurement on Bank financed projects in developing countries.

As per the Bank, Wipro has been excluded 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 norevenue implication for the company.


Source : Business Standard