Wipro banned by world bank

Forward by Nisha

Post Satyam, now Wipro disclosed that it has been banned by World Bank until 2011 for offering IPO to world bank staff worth $72000 through its CIO for promoting Wipro Brand under DSP plan. The question why was this done through CIO and not through CEO. This is all for Wipro and its integrity. It happens to be an oil companies run by lala’s and will remain so. The second question is did Wipro did not do due deligence on impact of offering its IPO to World Bank Staffs. Something looks fishy here. Can Wipro diclose under whose guidance within Wipro was this done and what is this person’s current role in Wipro. The skeletons have started to come out from IT cupboards.

The media report says:

“There are currently three companies that (have) been debarred along with their affiliates under the Bank group’s corporate procurement program,” the bank said in a statement.

It said it had barred IT company Satyam Computer Services for eight years and Wipro Technologies for four years for “improper benefits to bank staff”.

The bank said it also barred India’s Megasoft Consultants for four years in December 2007 for “participating in a joint venture with bank staff while conducting business with the Bank”.