World Bank blocks Larsen & Turbo for six Months over Forgery
World Bank has blocked Larsen & Toubro from doing any business with it or the projects funded by it for 6 months.
L&T unavailable for being awarded contracts for any world Bank-funded projects till to 6 September and receiving any loan proceeds made by bank.
The allowance order, 7 March said that L&T unavailable would continue across the world Bank group and has been appointed on L&T for fraudulent practices as per bank's procurement.
L&T any of entity controlled directly or indirectly by it can't choose even subcontractor, manufacturer and supplier and eligible firm being awarded in financed projects and L&T through Regional Business Head of its Medical equipment and systems unit to world bank financed in Tamil Nadu.
The world Bank group had entered into a development credit agreement with Indian government to provide 110.83 million dollars in January 2005.
All documents of bidding were issued by Tamil Nadu in July 2008. And 130 ultrasound scanners under the projects and L&T submitted bid 3rd September 2008 and bid is 115 total contained certificates issued by medical facilities.
L&T was informed in December 2008 Its tender has been cancelled and contract was awarded.