Wipro did nothing wrong: Premji to employees

Hours after World bank made public that Wipro has been debarred from doing any business with the global lender, the company's Chairman Azim Premji wrote to its over 1,00,000 employees saying that the company had not done anything unethical.

Denying charges levelled by the World Bank that Wipro provided improper benefits to the bank staff, Premji said,

"Let me reaffirm that Wipro was right from a legal as well as ethical standpoint. We believe what we did what was right and we did it in the right manner."

The company, in 2000, had provided Bank staff option to purchase its American Depository Shares at IPO price through a Directed Share Programme. However, the Bank in June 2007 determined that this was a conflict of interest.