 Online edition of India's National Newspaper Wednesday, May 05, 2010 ePaper | Mobile/PDA Version |
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NEW DELHI: Videocon Industries on Tuesday said it had moved a petition to revoke the ban. “We approached the World Bank in February, 2010, to revoke the ban ... after some hearings, we hope it will be done,” Videocon Chairman Venugopal Dhoot told PTI, shortly after the global lender's decision became public. Mr. Dhoot said the action came on account of some wrong information given by one of its employees in a tender in 2003 for supplying airconditioners worth about $50,000. “We suspended that employee and took disciplinary action. We have so far not supplied anything to the World Bank,” he said, adding that given the size of the group this was not a significant order and his firm would not do anything wrong for securing any supply order. After the tender documents were filed, the World Bank found the wrong information and they debarred the firm, he said. In its notification, World Bank said Videocon Industries has been barred from doing any business with it. — PTI
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