World Bank bans Indian companies Wipro and Megasoft
January 13th, 2009 by The Online Reporter
No doubt, India is one of those countries where IT sector boosted very rapidly, but it seems that now the downfall period has been started and World Bank blacklisted two more Indian companies and declared to have no more deals with them for next 4 years.
The names of these two companies are Wipro Technologies the third biggest indian software house, and a subsidiary of technology outfit Megasoft India. The allegation against these companies is improper payments. Wipro is accused of “providing improper benefits to (World) Bank staff” while Megasoft is said to have been involved in “a joint venture with Bank staff while also conducting business with the Bank.”
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- Posted in International News
January 13th, 2009 at 8:19 am
wrong spellings of WIPRO in post title
January 13th, 2009 at 11:47 pm
oh thanks for correction! that was a big mistake indeed