Maytas may get new board

Subscribe to Oneindia News

Maytas may get new board
Hyderabad, Jan 11: After Govt of India decided to change the Management of Satyam Computers on Friday, Jan 9, Andhra Pradesh govt is looking at changing the management of Maytas Infra soon to protect its projects including the Rs 13,000-crore Hyderabad Metro Rail.

The infrastructure company is involved in projects worth Rs 50,000 crore, of which a majority are joint ventures with the state. The B Ramalinga Raju family has a 36 per cent stake in the public limited company.

To view at the highest level, govt is taking drastic steps like terminating contracts with Maytas Infra. This might affect ongoing projects on which the govt had spent crores of rupees. Therefore other majority stake holders could be used to explore the possibility of replacing the existing Maytas Infra board, sources said.

OneIndia News (With inputs from Agencies)

Please Wait while comments are loading...