Sunday, January 11, 2009

world bank bans wipro - why...??

world bank bans wipro...!!!

i just heard on headlines today news channel that world bank bans wipro , i was shockd the same way you are when u see this news , iam just looking around to find more info abt this news , will be back soon and post more info about the this news world bank bans wipro.

update :

Wipro barred from World Bank. World Bank had determined in June 2008 wipro would be ineligible for the bank direct contracts up to 2011 citing a conflict of interest policy.Wipro said its revenues from World Bank were insignificant and the decision would not affect its business and results.It said the announcement was being made now under revised disclosure policies.

Wipro representatives offered the World Bank, through its Chief Information Officer (CIO) and a senior staff, participation in the program and they directed this offer to members of their family and friends,” according to today’s statement.

World Bank employees, their family and friends bought 1,750 Wipro shares for about $72,000 at the IPO price, Wipro said.

“Wipro’s revenue from the World Bank is insignificant,” the company said in the statement. “Our inability to get future business from World Bank will not adversely affect our business and results of operations.” courtesy bloomberg for more.....

*know your - deathdate ,@ ,

related tags : wipro, world bank, world bank bans, world bank bans wipro,wipro world bank,Wipro barred from World Bank


Post a Comment

arul said...

what the live vote result in thirumangalam. now

witan said...

WB itself is an unscrupulous, unethical organization, much worse than a village money lender. I have a feeling that the ban imposed on Wipro has been motivated by extraneous considerations.
What I’m reminded of is a scam relating to a WB funded project for purchase of computers and communications equipment by the Indian Council of Agricultural Research (ICAR). The affair came to light in November 2000. A criminal case was registered against the Director General and three senior executives of ICAR. The then Agriculture Minister, Nitish Kumar, with the approval of the Appointments Committee of the Cabinet, ordered the DG to go on “compulsory wait” while the investigations were going on. The DG and the three “senior executives” were persons with connections with powerful Indian politicians and with international agencies like FAO and World Bank. With his connections, the DG managed to brew up a storm of “protest” against his removal. The significant part was that the World Bank’s task manager for that particular project went out of his way to support the DG, although there was prima facie evidence of fraudulent deals. With the support from World Bank and other quarters, the DG got himself reinstated, and it was poor Mr Nitish Kumar who had to resign!