Videocon barred from doing business with World Bank for 3 years

Accusing Venugopal Dhoot-led Videocon of indulging in fraud and corrupt practices in dealings with it, the World Bank has blacklisted the Indian company for three years, ending January 11, 2013.

Videocon Industries Ltd has been barred from doing any business with World Bank for violating "procurement guidelines", for a period of three years, beginning January 11, 2010, a notification on the Bank's website said.