Andhra Pradesh may review Maytas Infra projects

January 19th, 2009 HYDERABAD - Maytas Infra Tuesday denied it received any funds from scam-tainted Satyam Computer Services, and that there was a nexus between the two companies. The denial came a day after the central government extended the ambit of probe into Satyam fraud to Maytas Infra and Maytas Proprties, promoted by two sons of disgraced founder and former chairman of Satyam B.

January 7th, 2009 HYDERABAD - The resignation of R.C. Sinha as the chairman of Maytas Infra, the infrastructure firm promoted by a son of fraud-tainted Satyam Computer chief B.

January 18th, 2009 HYDERABAD - P.K. Madhav, chief executive of Maytas Infra, promoted by disgraced founder and former chairman of Satyam Computer Services B.

January 18th, 2009 BHUBANESWAR - Maytas Infra, the infrastructure company linked to scam-tainted Satyam Computer Services, has lost a contract from Vedanta Alumina to develop an integrated township in Orissa, Vedanta said here Monday. 'We have terminated the contract.

January 19th, 2009 HYDERABAD - Maytas Infra and Maytas Properties, promoted by the sons of disgraced founder and former chairman of Satyam Computer Services B. Ramalinga Raju, Tuesday denied that they received any funds from the fraud-hit IT bellwether.

January 9th, 2009 BHUBANESWAR - Orissa Saturday announced it would review all the projects carried out in the state by Maytas Infra Private Limited (MIPL), promoted by the sons of disgraced Satyam Computer Services chairman B. Ramalinga Raju.

January 7th, 2009 HYDERABAD - The near Rs.7,000-crore (Rs.70 billion or $1.4 billion) financial fraud involving Satyam Computer has jeopardised infrastructure projects the firm's promoters had contracted in Andhra Pradesh, which includes the prestigious Hyderabad Metro rail project. Maytas Infra, the company promoted by Satyam chairman Ramalinga Raju's son B.

February 16th, 2009 NEW DELHI/HYDERABAD - The government Tuesday moved the Company Law Board to remove the board of directors of Maytas Infrastructure and Maytas Properties, the infrastructure firms promoted by disgraced Satyam founder B. Ramalinga Raju's family.

January 8th, 2009 HYDERABAD - The massive accounting fraud in Satyam Computers kicked off a political storm in Andhra Pradesh with Chief Minister Y.S. Rajasekhara Reddy and opposition leader N.

January 5th, 2009 NEW DELHI - Infrastructure development company Maytas Infra, which was embroiled in a major controversy last month over its acquisition by Satyam Computer, has bagged a Rs.1.1-billion (Rs.110-crore) contract from Southern Railway, the company said Tuesday. As per the contract, Maytas will double the broad gauge track between Chengalpattu and Villupuram, two districts in Tamil Nadu, the company said in a statement.

January 8th, 2009 KATHMANDU - As skeletons began tumbling out of the cupboards of India's IT bellwether company Satyam and the infrastructure company associated with it, Maytas Infra, there is also growing doubt about the latter's bid to foray into Nepal's hydropower sector. Maytas Infra - whose chairman resigned this week after one of its chief promoters, Satyam chief B.

February 4th, 2009 HYDERABAD - Maytas Infra, owned by former chairman of Satyam Computer Services B. Ramalinga Raju's family, has issued a legal notice to Vendanta Aluminum Ltd for 'fraudulently and illegally' encashing two bank guarantees worth Rs.640 million (Rs.64 crore) and for not clearing admitted dues.

February 26th, 2009 HYDERABAD - Maytas Infra, the infrastructure firm owned by the son of disgraced former chairman of Satyam Computer Services B. Ramalinga Raju, has filed a criminal case against Vedanta Aluminium and eight of its employees for 'fraudulently' encashing bank guarantees without terminating a contract between them.

February 17th, 2009 NEW DELHI - The Central Bureau of Investigation (CBI) Wednesday will take over the investigation into the Rs.70-billion (Rs.7,000-crore/$1.43 billion) Satyam accounting fraud from the Andhra Pradesh police. 'We have received the notification from the government of India to take over the Satyam Computers scam cases from CID, Andhra Pradesh.

January 6th, 2009 HYDERABAD - Satyam Computer founder-chairman B. Ramalinga Raju's disclosure of committing a Rs.40-billion ($823-million) fraud has shocked corporate India, especially the investors and over 50,000 employees of the country's fourth largest IT services company.