IL&FS to be new promoters of Maytas

September 1st, 2009 HYDERABAD - Infrastructure Leasing and Financial Services (IL&FS), the new management of city-based construction firm Maytas Infra, Tuesday said it would look at recapitalising the company through routes like a qualified institutional placement (QIP). "I think we need to recapitalise the company.

August 31st, 2009 NEW DELHI - Infrastructure Leasing and Financial Services (IL&FS) will be the new promoter of Maytas Infra, the company founded by the family of scam-tainted B. Ramalinga Raju, Corporate Affairs Minister Salman Khurshid said here Monday.

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 7th, 2009 HYDERABAD - The Andhra Pradesh government Tuesday said it has cancelled the Hyderabad Metro rail project contract awarded to Maytas Infra, run by the family of former Satyam chairman of B. Ramalinga Raju.

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.

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 16th, 2009 NEW DELHI - Infrastructure firm Maytas Infra has said it will likely hold a meeting with its bankers next week to discuss a corporate debt restructuring (CDR) package that was approved by the company board May 9. 'The bankers may call for a meeting to further discuss the CDR package, which is likely to be scheduled next week,' Maytas said in a regulatory statement issued after a board meeting Friday.

May 13th, 2009 MUMBAI - Wind energy major Suzlon Energy Wednesday said its promoters had sold about 30 million shares of the firm, representing two percent of the paid-up captial. Following the sale, the promoters' holding in the company has come down to 63.82 percent, the company said in a regulatory filing.

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.

March 20th, 2009 HYDERABAD - The government-appointed directors of Maytas Infra Ltd Thursday said they were trying to assess the health of the company and work out the future of its business. Ved Jain and O.P.

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 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.

January 7th, 2009 HYDERABAD - Maytas Infra chairman R.C. Sinha resigned from the infrastructure and construction firm for 'personal reasons', a company director said Thursday.