Vedanta terminates Maytas contract in Orissa

February 2nd, 2009 BHUBANESWAR - Maytas Infra - the infrastructure company floated by the promoter-family of scam-tainted Satyam Computer Services - has lost another project in Orissa. Hyderabad-based KVK Energy, which is setting up a Rs.50-billion (Rs.5,000-crore), 1,050 MW coal-fired power project in Cuttack district, Tuesday said Maytas was no longer its joint venture partner.

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.

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 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 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 BHUBANESWAR - The Orissa government will re-examine the application for land that the scam-tainted IT bellwether Satyam Computer wants for setting up a new unit in the state, a senior official said here Friday. The company sought land to set up a business process outsourcing unit, information technology department P.K.

January 6th, 2009 NEW DELHI - DSP Meryll Lynch, a leading financial management and advisory firm, Wednesday announced it has terminated its advisory engagement with Satyam Computer following the Maytas fiasco. 'This is to inform you that we, DSP Meryll Lynch, have terminated our advisory engagement with Satyam Computer Services Ltd for considering various strategic options on Jan 6, 2009.

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.

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

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.

April 11th, 2009 BHUBANESWAR - A 25-year-old man from Orissa who had lost his job with a Mumbai software firm last year and was unable to find a new one committed suicide by consuming pesticide, police said here Saturday. Prasanta Jena, a resident of Nian Gorada village of Puri district, lost his job last December due to the global recession.

January 27th, 2009 BANGALORE - The Karnataka government Wednesday decided to remove the beleaguered Maytas Infra - a firm associated with the fraud-hit Satyam Computer Services - from the two greenfield airport projects at Shimoga and Gulbarga. 'We have decided to call for fresh tenders for the airport projects at Shimoga and Gulbarga.

January 21st, 2009 HYDERABAD - Maytas Infra Limited, promoted by the family of disgraced Satyam Computer Services founder B. Ramalinga Raju, Thursday sought extension of time to announce the financial results for Oct-Dec 2008 quarter as its account books are being inspected by Registrar of Companies and the Serious Fraud Investigation Office.

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.