Andhra Pradesh cancels Metro contract awarded to Maytas

August 31st, 2009 NEW DELHI - Corporate Affairs Minister Salman Khurshid Monday said prima facie some evidence indicated that funds had been transferred from Maytas Infra to scam-tainted Satyam Computers, now Mahindra Satyam. "When the accounts are stated, this will become clear as to where the money has gone," said Khurshid while briefing reporters on a new Company Law Board (CLB) order regarding Maytas Infra.

July 17th, 2009 HYDERABAD - The Andhra Pradesh government has invited fresh global bids for the Rs.121-billion ($2.4-billion) Hyderabad Metro Rail project in a public-private partnership (PPP) mode. The notification issued late Thursday by Municipal Administration and Urban Development Principal Secretary C.V.S.K.

July 13th, 2009 HYDERABAD - A week after scrapping the deal with Maytas Infra-led consortium for the Hyderabad Metro Rail, the Andhra Pradesh government Monday decided to invite fresh global bids for the Rs.12,200 crore (Rs.122 billion/$2.4 billion) project. The process of inviting the fresh bids will begin this week and will be completed by Nov 15, Municipal Administration Minister Aanam Ramanarayana Reddy told reporters after a meeting chaired by Chief Minister Y.S.

July 7th, 2009 MUMBAI - The Karnataka government has retained Maytas Infra, a company run by the family of former Satyam chairman B. Ramalinga Raju, as the developer for two greenfield airport projects at Gulbarga and Shimoga.

July 7th, 2009 HYDERABAD - The Andhra Pradesh government Tuesday scrapped the Rs.12,230-crore Hyderabad Metro Rail contract awarded to a consortium led by Maytas Infra, the firm owned by the family of disgraced Satyam founder and former chairman B. Ramalinga Raju.

July 1st, 2009 MUMBAI - India's Engineering and construction major Punj Lloyd bagged a Rs.1,263 crore ($378 million) contract to build two key metro stations in Singapore, the company said Wednesday. The contract, awarded by the Singapore Land Transport Authority to Punj Lloyd's wholly owned subsidiary Sembawang Engineers and Constructors, is for building Botanic Gardens and Stevens stations.

June 18th, 2009 HYDERABAD - Maytas Infra has requested the Andhra Pradesh government for an extension of time for the Rs.8,132-crore Hyderabad Metro Rail project, the company said Thursday. The city-based infrastructure company's statement comes amid reports that the state government has decided to scrap the agreement it signed with a Maytas-led consortium last year in view of its "incapability" to achieve financial closure.

May 6th, 2009 NEW DELHI - Cash-strapped builder Maytas Infra Ltd is negotiating with its 17 lenders, including State Bank of India (SBI), according to official sources. "We have appointed certain committees.

April 29th, 2009 HYDERABAD - The board of cash-strapped Maytas Infra, promoted by disgraced founder of Satyam Computer Services B. Ramalinga Raju and his family, Wednesday approved a draft corporate debt restructuring (CDR) package and recast the management by appointing two presidents.

March 21st, 2009 HYDERABAD - The Andhra Pradesh Government on Friday forwarded the names of three Police officers to the Election Commission for it to name the State's new Director General of Police (DGP). The names were forwarded after the Election Commission had ordered the transfer of current DGP S.

March 6th, 2009 NEW DELHI - The Company Law Board Thursday allowed the government to name four directors, including the chairperson, to the board of Maytas Infra but set aside a petition seeking to supersede the company's entire top brass. The permission immediately resulted in the government appointing senior advocate and tax expert O.P.

January 20th, 2009 BHUBANESWAR - A proposed power project in Orissa has run into trouble over the promoter company's links with Maytas Infra, a senior official said Wednesday. The state government has put on hold the process of land acquisition and water allotment for the project and asked the company, KVK Nilachal, a subsidiary of Hyderabad-based KVK Energy, to furnish details of its link with Maytas Infra - controlled by one of the sons of scam-tainted Satyam Computer founder B.

January 18th, 2009 MUMBAI - Maytas Infra chief executive P.K. Madhav has resigned, the company announced Monday.

January 17th, 2009 HYDERABAD - The Andhra Pradesh government Sunday ruled out a probe into the public projects awarded to Maytas Infra, the company promoted by a son of disgraced Satyam Computer Services founder-chairman B. Ramalinga Raju.

January 10th, 2009 HYDERABAD - The Andhra Pradesh government Sunday denied there were any irregularities in awarding contracts for various infrastructure projects to Maytas Infra, the company promoted by the family of disgraced former chairman of Satyam Computers. Chief Minister Y.S.