World Bank bar Larsen & Turbo for six Months over Forgery
The World Bank in the month of March 2013 barred Larsen & Toubro
(L&T) from doing any business with it or the projects funded by it
for a period of six months, as it found that a senior executive of the
conglomerate indulging in fraud.
The department has made L&T ineligible for being awarded of any
contract of the World Bank Funded projects and also from receiving any
loan proceeds made by the Bank or participating in any Bank-financed
project. The department is supposed to continue till 6 September 2013.
India Proposed Hydrocarbon Pipeline from Kazakhstan
India in the month of March 2013 proposed the idea of a hydrocarbon
pipeline with Kazakhstan that is intended to bring fuel through a
five-nation route.
The concept of the pipeline, unveiled could be in future extended to
Russia. Officials said currently most hydrocarbon pipelines from Central
Asia are on an east-west axis. This pipeline will, like TAPI, be on a
north-south axis, providing a new route to South Asia for hydrocarbons
extracted from Central Asia.
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