World Bank can review eight-year ban on Satyam.Byline: ANI
New Delhi New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. , 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 A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are instigated in response to a customer complaint, abnormal levels if internal nonconformity, nonconformities identified during an internal audit or 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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