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 Good News for TCS recruits..

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Posts : 25
Join date : 2009-02-07

PostSubject: Good News for TCS recruits..   Sun Feb 15, 2009 6:27 am

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.

have hired Tata Consultancy Services (TCS) to do much of the IT work
that Satyam used to do," a World Bank spokesperson told PTI.

IT major had bagged much of the Satyam's project through competitive
bidding early last year, thus indicating that the World Bank is not
specifically targeting Indian IT companies, as being alleged in certain

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 Surendra Singh, too, have been debarred by the global apex
monetary institution.

The action was initiated against these
entities and an individual as they were found to have "violated the
fraud and corruption provisions of the Procurement Guidelines or the
Consultant Guidelines," besides offering improper benefits to the Bank

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.
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