Several Indian firms debarred by World Bank in 2018

Wednesday 10th October 2018 02:39 EDT

Several Indian companies and individuals from the country have been debarred by the World Bank from its various projects across the globe. In its first report on its efforts to fight corruption and safeguard donor resources, the World Bank Group Sanctions System Annual Report for the current year, said Olive Health Care and Jay Modi from India have been debarred for their fraudulent and corrupt practices. They were working on a World Bank project in Bangladesh. While Olive Health has been debarred for 10 years and six months, Modi has been debarred for seven years and six months. A total of 78 companies and individuals have been debarred by the World Bank.

The bank said the inaugural report is the result of efforts by the Integrity Vice Presidency (INT), the Office of Suspension and Debarment (OSD) and the Sanctions Board to prepare a joint overview of the Bank Group Sanctions System and its activities over the past year. India-based Angelique International Limited has been debarred by the World Bank for four years and six months for their fraudulent and corrupt practices. The company had a World Bank project in Ethiopia and Nepal. India's Family Care too has been debarred for four years on similar grounds. They had projects in Argentina and Bangladesh.

Madhucon Projects Ltd. from India has been debarred for fraudulent practices, for two years. RKD Construction Pvt Ltd. has been debarred for one year and six months for the same reason. It has projects in India. Other Indian companies debarred by the World Bank for less than a year include Tatve Global Environment Pvt. Ltd., SMEC (India) Pvt. Ltd., and Macleods Pharmaceuticals Ltd. Five other firms were sanctioned with conditional non-debarment, meaning they remain eligible to participate in World Bank-financed projects but will be debarred if they do not meet certain agreed-upon conditions.

Each of the sanctions related to a finding that the firm or individual engaged in one of the institution's five sanctionable practices- fraud, corruption, collusion, coercion, or obstruction, while participating in a Bank Group-funded project.

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