Mahindra Satyam can hope for World Bank projects again

K.V. Kurmanath | | Updated on: Mar 12, 2018

Mahindra Satyam hopes to bid for World Bank projects post merger with Tech Mahindra. The company was barred by World Bank in October 2008 on data theft allegations.

"Yes. That is one of the benefits we see in the merger. After the merger, we can put the past behind as we did in other aspects of business and look ahead to win World Bank projects since there's no such bar on Tech Mahindra. The old entity would go into oblivion removing the scar," a senior Mahindra Satyam executive told Business Line .

The erstwhile management, led by founder-Chairman Mr Ramalinga Raju, put on a brave face initially, demanding an apology from World Bank for levelling 'baseless' allegations. A few weeks later, he admitted to financial fraud that had led to change in management. The new management under Mahindras had begun discussions with World Bank for revival of projects.


Published on April 20, 2012
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