Maytas diverted Rs.390 crore to Satyam: Khurshid

August 31st, 2009 MUMBAI - Infrastructure company Maytas Infra posted a net loss of Rs.489.79 crore last fiscal compared to a profit of Rs.99.64 crore in the previous period, it said in a regulatory statement Monday. The Hyderabad-based company, promoted by the family of B.

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 - Infrastructure Leasing and Financial Services Ltd (IL&FS), a leading infrastructure development and finance company, will be the new promoter of Maytas Infra, union Minister for Corporate Affairs Salman Khurshid announced Monday. "IL&FS will be the new promoter of Maytas Infra following an order of the CLB (Company Law Board)," Khurshid told reporters here.

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 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.

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 5th, 2009 NEW DELHI - The government-appointed board of Maytas Infra Ltd, an infrastructure firm linked to fraud-hit Satyam Computers, Tuesday said it was planning to raise funds through fresh loans and, if necessary, through a stake sale. 'The corporate debt restructuring, which we have initiated in consultation with our lenders will not only try to reschedule loans but also look at raising fresh loans for existing projects,' said Anil K.

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.

February 1st, 2009 BANGALORE - The Karnataka government has served notice to the beleaguered infrastructure firm Maytas Infra Ltd on delay in implementing the two greenfield airport projects at Gulbarga and Shimoga that it had bagged as part of a consortium. According to a belated official note here Monday, the decision to serve the show-cause notice was taken Jan 29 by chief secretary Sudhakar Rao at a review meeting of infrastructure projects in which Maytas and fraud-hit Satyam Computers Ltd are involved.

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

January 17th, 2009 NEW DELHI - Communist Party of India-Marxist (CPI-M) general secretary Prakash Karat has written to Prime Minister Manmohan Singh for probing possible nexus between Satyam Computer Services and Maytas, the company owned by the family of the IT bellwether's scam-tainted former chairman B. Ramalinga Raju.

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