Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / CLB reserves order on Maytas Infra board
BackBack

CLB reserves order on Maytas Infra board

CLB reserves order on Maytas Infra board

Premium

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 27 Feb 2009, 12:09 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie