World Bank bars Indian pharmaceutical maker for 3 months
( December 22, 2017, 23:39 GMT | Official Statement) -- The World Bank Sanctions Board reduced the term of debarment for an Indian pharmaceuticals manufacturer from 31 months to three after the company, Macleods Pharmaceuticals Limited, appealed a decision by the bank's suspension and debarment officer. The board upheld the finding that Macleods had committed fraud by misstating the amount of an agent's commission on a contract issued under a Bangladesh health project, claiming that it paid just 0.5 percent when the real commission was 3 percent. However, the board also allowed Macleods to avoid cross-debarment by other multilateral development banks by reducing the term of debarment to three months. The board took into account that Macleods had been suspended from World Bank procurements since January 2016, and it also treated a delay in bringing the case as a mitigating factor.
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