Boards Of Maytas Infra and Maytas Properties Not To Get Dissolved

The government has announced that it will not dissolve the boards of Maytas Infra and Maytas Properties, whose acquisition deal by Satyam Computer for $1.6 billion was aborted following shareholders' dissent. The government has already ordered inspection by the Registrar of Companies, Hyderabad, into eight subsidiaries of Satyam Computer and Maytas Infra and Maytas Properties, the companies promoted by the kin of disgraced Satyam founder Mr. B Ramalinga Raju. Satyam Computer had announced acquiring the two companies for $1.6 billion but the deal could not go through because of strong protests from shareholders. While Maytas Infra is engaged in development of projects like roads, expressways and highways, the other company is mainly into real estate.
12 Jan 2009 rediff.com