World Bank can review eight-year ban on Satyam

February 15th, 2009 - 5:36 pm ICT by ANI  

New Delhi, Feb 15 (ANI): Satyam Computers Services Ltd., the Indian software giant that has been accused of committing a billion dollar executive fraud has got some relief with the World Bank saying it could review its eight year ban on the company if corrective action is taken.
The vendor would have to demonstrate (that) corrective action had been taken to address the original causes of the ineligibility, a World Bank official said in an e-mailed statement.
The statement also emphasized that Satyam has to show that it has become a responsible vendor again to do business with.
The World Bank had earlier barred Satyam Computers from doing business after it was found that the company had provided improper benefits to bank staff. (ANI)

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