Satyam banned from dealing with World Bank for 8 years

December 23rd, 2008 - 9:15 pm ICT by IANS  

New Delhi, Dec 23 (IANS) The World Bank has said it has banned leading software vendor Satyam Computers from all business at the bank for a period of eight years - and that the ban started in September, according to a US broadcaster.The World Bank move came after bank investigators discovered that spy software was covertly installed on workstations inside the bank’s Washington headquarters - allegedly by one or more contractors from Satyam Computers, broadcaster Fox News said.

The debarment - the harshest sanction the world’s largest anti-poverty agency has imposed on any company since 2004 - was meted out for “improper benefits to bank staff” and “lack of documentation on invoices,” Fox News said quoting Robert Van Pulley, the World Bank’s top information security official.

In 2005, the bank’s chief information officer, Mohamed Muhsin, was ousted after being accused of improperly buying preferential stock options from Satyam, even as he awarded the firm major contracts, it said.

A World Bank spokesperson in New Delhi confirmed the news to IANS.

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