Maytas wants to delay Q3 results by a month

Maytas wants to delay Q3 results by a month
PTI
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First Published: Thu, Jan 22 2009. 02 51 PM IST
Updated: Thu, Jan 22 2009. 02 51 PM IST
Hyderabad: Maytas Infra has sought a month’s extension of the date for announcing its third-quarter results.
The company, promoted by former Satyam Computer Chairman B Ramalinga Raju’s family, was originally required to announce its third-quarter results by the end of this month.
However, citing the ongoing investigations by various agencies into the Satyam scandal as also its own operations, Maytas Infra has requested the stock exchanges to extend by a month the date for the announcement of the results, a Maytas spokesman said.
Various agencies, including the state Crime Investigation Department, have been probing the Maytas affair after B Ramalinga Raju admitted to serious financial fraud in Satyam Computer.
Since the firm has been promoted by Ramalinga Raju and his family, Maytas has come under scanner, particularly in relation to the major infrastructure projects it secured from the Andhra Pradesh government.
Also, there were allegations that funds from Satyam were diverted to Maytas, causing the government agencies to verify the infrastructure company’s records as well.
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First Published: Thu, Jan 22 2009. 02 51 PM IST
More Topics: Satyam | Maytas | Investigation | Company Results | Q3 |