Oct 5: The World Bank has debarred various companies and a few individuals hailing from India from some of its projects. The news was revealed in its annual report. The report states that India’s Olive Health Care and Jay Modi have been debarred because of their deceitful and corrupt practices. The firms were handling the multilateral lending agency’s project in Bangladesh.
According to the report, Olive Health Care has been barred for 10 years and six months while Jay Modi was banned for 7 years six months. The World Bank debarred 78 companies and individuals. The efforts of 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 resulted in the annual report, said a report.
Angelique International Limited, an India based company which handled a project in Ethiopia and Nepal for the World Bank, has been barred for four years and six months due to their falsified and unethical practices. Family Care is another company from India which was barred by World Bank for four years. The company which had projects in Argentina and Bangladesh were barred for the malpractices.
World Bank has debarred Indian companies Madhucon Projects Ltd and R KD Construction Pvt Ltd for two years and one year six months respectively. Both the companies were allegedly following fraudulent practices in their project in India. Tatve Global Environment Pvt Ltd, SMEC (India) Pvt Ltd, and Macleods Pharmaceuticals Ltd are the other Indian companies which were debarred for less than a year.
Five firms from the 78 debarred ones were authorized with conditional non-debarment. This means the company can participate in World Bank-financed projects but it will be debarred if it did not meet some of the conditions they agreed for, the report added.
The actions were taken after it was found that the presently barred firms and individuals were involved in practices such as fraud, corruption, collusion, coercion or obstruction when they were part of the projects backed by World Bank.
Apart from assessing the charges of fraud and corruption, INT also has operations to prevent corruption in the ongoing projects. As per the report, the staffs that were part of INT recognized and operated to mitigate integrity risks in 390 projects. This, in turn, made progress in safeguarding an amount of around USD 2.2 billion allotted for projects.