Delhi MCD Election Results 2017

Source: media reports

CLB reserves order on Maytas Infra board

CLB reserves order on Maytas Infra board
PTI
Comment E-mail Print Share
First Published: Fri, Feb 27 2009. 12 09 PM IST
Updated: Fri, Feb 27 2009. 12 09 PM IST
New Delhi: The Company Law Board on Friday reserved its orders on government’s petition for superseding the board of Ramalinga Raju-family promoted Maytas Infra, while suggesting that four independent directors be inducted.
However, CLB did not entertain a list of 12 probable directors submitted by Maytas.
It also favoured selecting a chairman from among the four independent directors to be taken on board.
Lenders IDBI Bank, ICICI Bank and IL&FS on Friday said it welcomed the suggestion for inducting independent directors, while saying they do not want their own representatives for the role.
CLB had on Thursday said it was against superseding the Maytas Infra board.
Sources said the order is likely to be pronounced next week.
Comment E-mail Print Share
First Published: Fri, Feb 27 2009. 12 09 PM IST