World Bank opts for TCS to replace Satyam

The World Bank has hired another Indian IT major Tata Consultancy Services to do much of the work previously being done by Satyam, which has now been 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,” a World Bank spokesperson told PTI. The IT major had bagged much of the Satyam's project through competitive bidding early last year, thus indicating that t he World Bank is not specifically targeting Indian IT companies, as being alleged in certain quarters.

In a statement issued on Monday, the World Bank had revealed three Indian IT companies that have been debarred from doing business with it. Besides Satyam, which has been debarred for eight years beginning September 2008, Wipro (beginning June 2007) and Megasoft Technologies (beginning (December 2007) have also been banned for four years each.

Two other Indian companies, Nestor Pharmaceuticals and Gap International (both non-IT entities) and one individual, Mr Surendra Singh, too, have been debarred by the global apex monetary institution.

In all, the World Bank has debarred as many as 111 companies and individuals from across the world from doing or bidding for its projects. - PTI

http://www.thehindubusinessline.com/blnus/15131160.htm

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World Bank opts for TCS to replace Satyam