Three Indian entities barred for corruption untraceable: ADB

New Delhi, Feb 22 (PTI) Two Indian companies and one
individual figure among a dozen entities barred from doing
business by Asian Development Bank on corruption charges, but
have remained untraceable by the international lender.

Although the bank has declared them ineligible to
participate in any ADB-funded project, it could not "notify"
these 12 entities about its decision.

The bank has made this disclosure in its latest update on
sanctions imposed by it on various entities as part of its
regular probe into corruption allegations.

The three Indian entities include two companies -- Target
Engineering Corporation and BRC Constructions -- and one
individual, TKP Menon.

When asked about the three entities, an ADB official said
the bank was not able to notify them about sanctions imposed
on them.

"It is that either the bank is not able to find them or
these entities are not acknowledging the receipt of the
notification, informing them about the sanction," the official
told PTI over phone from Manila.

The official, however, did not disclose when the
sanctions were imposed on them and what were the nature of
corruption charges.

The sanctions on Target Engineering Corporation would be
in place "until at least October 28, 2010" and that on BRC
Constructions would be valid "until at least June 23, 2011".

TKP Menon has been barred from doing any business with
ADB for an indefinite period.

As on January 28 this year, a total of 286 firms and 266
individuals have been declared ineligible to participate in
ADB-funded activities for committing "fraudulent or corrupt
acts". In 2008 alone, ADB sanctioned 79 entities including 41
companies and 38 individuals for corruption.

The bank officials declined to comment on whether there
are Indian firms or individuals among the 79 entities
sanctioned last year.

According to the bank, companies "that were sanctioned"
following investigations are prohibited from doing business
with it for up to seven years. For individuals, the period for
which sanctions would remain range from "one year to an
indefinite period".
ADB's Office of the Auditor General, Integrity Division
(OAGI) report had noted that a total of 552 firms and
individuals banned from working for ADB since it began
investigating corruption allegations in 1998.

This includes 12 individuals or firms which the bank
found impossible to notify after it "declared (them)
ineligible to participate in ADB-financed activity". PTI RAM
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