India gets embarrassing blow from the World Bank
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NEW YORK - The World Bank has debarred several Indian companies and individuals from its various projects across the globe in its efforts to fight corruption and safeguard donor resources.
The World Bank Group Sanctions System Annual Report for the year 2018 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.
Report said Olive Health has been debarred for 10 years and six months while Modi has been debarred for seven years and six months.
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.
Family Care from India too has been debarred by the World Bank for four years on similar grounds.
They had projects in Argentina and Bangladesh.
