Govt. withdraws two nominees from Maytas Infra board

Govt. withdraws two nominees from Maytas Infra board
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First Published: Thu, Sep 24 2009. 12 36 AM IST
Updated: Thu, Sep 24 2009. 12 36 AM IST
Hyderabad: The Union government on Wednesday withdrew two of its four nominees on the board of Maytas Infra Ltd, the troubled firm previously promoted by the family of B. Ramalinga Raju, the jailed founder of software outsourcer Satyam Computer Services Ltd. K. Ramalingam, a former chairman of the Airports Authority of India Ltd, and O.P. Vaish, a senior legal professional, will step down from the board, following the induction of the firm’s new promoters, Infrastructure Leasing and Financial Services Ltd (IL&FS).
The other two nominees, Anil K. Aggarwal, a former president of the Associated Chambers of Commerce and Industry of India (Assocham), and Ved Jain, a former president of the Institute of Chartered Accountants of India (ICAI), will continue on the Maytas board for two years. The government had on 5 March appointed its nominees on the board of Maytas following a representation by its lenders to supercede the firm’s management.
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First Published: Thu, Sep 24 2009. 12 36 AM IST