Videocon Industries Ltd (VIL) has been barred from doing any business with World Bank for violating “procurement guidelines”, for a period of three years, beginning January 11, 2010, a notification on the bank’s website said.
Videocon was sent a “letter of reprimand subsequent to an administrative process” permitting the company to respond to the allegations, the World Bank said.
Videocon’s name has been listed among firms and individuals ineligible to be awarded a World Bank-financed contract, as it has violated fraud and corruption provisions of the procurement guidelines.
The list of debarred entities from India include two Kolkata-based firms B R & Sons and Hemant Tibrewal, and three Delhi-based entities — Om Prakash Jindal, Upasana Jindal and S M Scientific Instruments Pvt Ltd.
Published 04 May 2010, 16:12 IST