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World Bank List of Corrupt Companies, Is self regulation and free market the answer ?

Written By Gopal Krishna on Friday, September 20, 2013 | 8:37 PM

Note: Is it sufficient to for the World Bank to provide the listing of corrupt and ineligible firms?. The companies and individuals mentioned in the list are ineligible to be awarded a World Bank-financed contract for the periods indicated because they have been sanctioned under the Bank's fraud and corruption policy as set forth in the Procurement Guidelines or the Consultant Guidelines. Such sanction was imposed as the result of:
(1) an administrative process conducted by the Bank that permitted the accused firms and individuals to respond to the allegations. Through July 2007, this process was conducted in accordance with the Sanctions Committee Procedures adopted on August 2, 2001. Since then, the process has been conducted in accordance with the Sanctions Procedures of the World Bank Group Sanctions Board. For more information on the two-tier sanctions process go to Sanctions Management webpage.
OR
(2) cross-debarment in accordance with the Agreement for Mutual Enforcement of Debarment Decisions dated 9 April 2010, which, as of July 1, 2011, has been made effective by the World Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, and African Development Bank.
Following names with India connection find mention in its list and report:-
SNC-Lavalin Infrastructure Private Limited
Span House, 92-C Gurudwara Road, Madangir, New Delhi - 110 062, India
SNC-Lavalin India Infrastructure Advisors Private Limited
Vedanta, 4th Floor, 779 Makwana Road, Off Andheri-Kurla Road, Marol, Andheri East, Mumbai 4000 059 India
SNC-Lavalin Engineering & Technology Private Limited
6th Floor, Mirchandani Business Park, Saki Naka, Andheri-East, Mumbai 400 072, India
Interfleet Technology (India) Private Limited
Level 2, Raheja Centre Point, 294 CST Road, Near Mumbai University, Kalina, Santocruz (E), Mumbai, 400098, Maharashtra, India
Ambalal Sarabhai Enterprises Limited
Mitra & Co. Private Limited


The World Bank has a list of corrupt companies prohibited from getting contracts. It is available here:
http://web.worldbank.org/external/default/main?theSitePK=84266&contentMDK=64069844&menuPK=116730&pagePK=64148989&piPK=64148984
The list includes a lot of different types of companies. It includes companies dealing with metals and chemical. World Bank List of Corrupt Companies has 117 companies from Canada, 46 from USA, 43 from Indonesia and 40 from UK.  Actually Some 115 companies are SNC-Lavalin and its subsidiaries.

More than 600 companies are currently listed as barred from doing business with the World Bank over corruption. Is self regulation of corporations and free market the answer? Why should these companies be allowed to exist?
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