Feeds

World Bank bans India outsourcer Satyam for 8 years

No longer friends with 'improper benefits'

The essential guide to IT transformation

The World Bank has barred India's Satyam Computer Services – the aid institution's largest software vendor and India's fourth-largest outsourcing company – from doing business with it for eight years.

On Tuesday, World Bank confirmed earlier reports of the ban in a statement that said Satyam had provided "improper benefits" to bank staff and failed to "maintain documentation to support fees charged for its subcontractors."

The decision was made effective in September and was made after a temporary suspension of Satyam that took effect in February.

News of the barring was first reported in October by Fox News, which further alleges World Bank investigators discovered spy software installed by one or more Satyam contractors on workstations in the bank's Washington DC headquarters.

The World Bank denies these claims, stating "there is no evidence that Satyam was involved in malicious attacks on the Bank's information systems."

Satyam began contract work for the World Bank in 2003, maintaining software across all its locations and back-end office support.

The Hyderabad-based company has its work cut out to restore its reputation. Satyam was recently forced by an investor revolt to call off a $1.6bn acquisition of two construction firms partially owned by Ramalinga Raju and his family.

UK mobile payments company Upaid Systems is also suing Satyam on charges of fraud, forgery and breach of contract. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Broadband slow and expensive? Blame Telstra says CloudFlare
Won't peer, will gouge for Internet transit
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.