TCS bags chunk of World Bank projects serviced by Satyam

14 Jan 2009

Tata Consultancy Services (TCS) has clinched a “significant” portion of World Bank contracts that were previously serviced by Satyam Computer Services. This was confirmed by the World Bank, however the amount of contract was not disclosed.

 

The World Bank, last year, decided to keep Satyam off all businesses for eight years beginning September 2008. The Bank had attributed the ban to “providing improper benefits to Bank staff and failing to maintain documentation to support fees charged for its subcontractors.” But in what came as a startling revelation just yesterday, the World Bank also disclosed that apart from Satyam, it had also barred Wipro for “providing improper benefits to Bank staff”, and Megasoft for “participating in a joint venture with Bank staff while also conducting business with the Bank.” The ban on Wipro and Megasoft is for four years each, effective from June 2007, and December 2007, respectively.

 

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