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The government on Thursday (March 5) got the approval of Company Law Board (CLB) to appoint four new directors to the board of Maytas Infra, the firm promoted by scam-tainted Satyam's founder B Ramalinga Raju. However, the CLB has declined the petition to supersede Maytas Infra's top brass. Immediately after the permission of CLB, the government appointed senior advocate and tax expert O.P. Vaish and noted chartered accountant Ved Jain as two new directors of Maytas board. The government is still to appoint two more directors.
While interacting with the media, corporate affairs minister Prem Chand Gupta said that the appointment of the other two directors will announced soon. He also informed that the board has asked to move another petition if required. Maytas Infra is a listed company on Bombay Stock Exchange. It is promoted by disgraced founder and former chairman of Satyam. An investigation is currently going on to find out the role of Raju and his family in $1.43 billion Satyam scam.
Speaking on Maytas Infra, Prem Chand Gupta said that government wants to ensure that the interests of all stakeholders of Maytas are preserved. The current investigation not only includes Satyam and Maytas but also some 300 others associates who are believed to be involved with the group.
