TCS bagged WorldBank projects

In an unusually delayed disclosure, the World Bank said it has awarded Tata Consultancy Services a chunk of the projects that were earlier given to Satyam Computer.

The Bank had barred Satyam from doing business with it for eight years beginning September 2008, months before the IT company was shaken by a Rs 7,800 crore accounting fraud at home. "We have hired Tata Consultancy Services (TCS) to do much of the IT work that Satyam used to do," a World Bank spokesperson said. The projects were awarded to TCS the same month through competitive bidding an indication that the Bank is not specifically targeting Indian IT companies.

TCS spokesperson said, "We bagged the contract from World Bank a long time back... early September last year." However, he declined to give further details as the company is scheduled to announce its quarterly results on January 15.