Days after a billion-dollar accounting scandal rocked Satyam Computer Services (SAY), the firm along with two others — Wipro Technologies (WIT) and Megasoft Consultants — received bans on World Bank contracts amid charges that they gave unauthorized perks to World Bank staffers and their families and friends.

Wipro Technologies, a leading outsourcer based in Bangalore, India, is disqualified from World Bank contracts through 2011 for selling stock in its initial public offering to family and friends of senior World Bank staffers.

Satyam, of Hyderabad, India, was barred for eight years for allegedly providing improper benefits to bank staff and not maintaining documentation to support fees charged for its subcontractors.

Megasoft Consultants, of Chennai, India, received a four-year ban for participating in a joint venture with bank staff while also doing business with the bank.

The latter two bans came in the past two years but were made public only recently "in the interest of fairness and transparency," according to a statement from the World Bank.

Bank officials say the agency will immediately disclose future actions it takes against contractors.

Wipro shares fell 10% to 7.35 on Monday. Satyam, which resumed trading after a three-day halt, sank 84%, to 1.46. Patni Computer Systems (PTI) of Mumbai slid 0.2%.

The World Bank finances projects to improve health, education and infrastructure in developing nations.

Wipro says it sold the insider stock "to expand our recognition and brand."

The company says all participants signed a conflict-of-interest statement to say the stock purchases did not violate company ethics policies.

Wipro officials didn't immediately respond to questions Monday, but in a press statement it called revenue from the World Bank "insignificant."

"Our inability to get future business from World Bank will not adversely affect our business and results of operations," officials wrote.

Still, such problems will likely cause investors to give more scrutiny to corporate governance in India, says Joseph Foresi, an analyst with Janney Montgomery Scott.

"Indian companies could have an image problem," he said. "Any further negative news will reflect badly on the whole space, so they certainly have to be concerned."

News about Satyam's fallout with the World Bank came to light in December, shortly after Satyam's former Chief Executive Ramalinga Raju announced a plan to pay $1.6 billion to buy two construction companies run by his two sons, Teja and Rama.