BackCLB allows Maytas Infra to finalize FY’10 results by 30 June
CLB allows Maytas Infra to finalize FY’10 results by 30 June
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Mumbai: Crisis-hit Maytas Infra on Monday said that the Company Law Board (CLB) has allowed it to report quarterly accounts for the current financial year by 30 June, 2010.
In a filing to the National Stock Exchange (NSE), Maytas Infra said that the CLB vide its order dated 31 December, 2009, granted extension of time up to 30 June, for publication of financial results of the company for the quarters ending September 2009, December 2009 and March 2010."
In view of certain impending issues such as corporate debt restructuring and the likely delay in publishing the quarterly financial results, the company had made an application to the CLB for the extension of time, it added.
In October 2009, the CLB had allowed the company to report its accounts for the quarter ended September by 31 December.
Last year, Infrastructure Leasing & Financial Services (IL&FS) took over Maytas Infra, a company founded by the kins of disgraced Satyam Computer founder B. Ramalinga Raju.
Disclosure of accounting fraud by Raju had its impact on Maytas Infra also and the company lost many contracts and slipped into dire straits.
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