World Bank bans L&T for forgery - The Hindu: "The World Bank has barred Larsen & Toubro (L&T) from doing any business with it or the projects funded by it for six months, after finding that a senior executive of the conglomerate has indulged in fraud.
The debarment will continue till September 6, making L&T ineligible for being awarded contracts for any World Bank-funded projects, from receiving any loan proceeds made by the Bank or participating in any Bank-financed project.
The sanction order, dated March 7, said L&T’s ineligibility would continue across the entire World Bank group and had been imposed on L&T ‘for fraudulent practices’ as per the bank’s procurement guidelines against fraud and corruption."
'via Blog this'
Friday, March 08, 2013
L&T - lights out with World Bank
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment