RP Raju resigns as Maytas director, board reviews CDR proposal
March, 27th 2009
Maytas Infrastructure on Thursday said its independent director RP Raju has resigned from the company's board.
"The board of directors, during its meeting held today (Thursday), has accepted the resignation of independent director RP Raju," Maytas Infra, a company promoted by the kin of disgraced Satyam founder B Ramalinga Raju, informed the Bombay Stock Exchange.
The Board also reviewed the status of Corporate Debt Restructuring (CDR) of the company. However, the company did not provide any detail in this regard. Earlier there were reports that the lenders had raised concerns and advised that the company be referred to the CDR board.
Besides, the Board also reviewed the company's operations of construction business and plan for the financial year 2009-10, Maytas Infra said. Earlier this month, the government had named former ICAI president Ved Jain and noted tax lawyer OP Vaish as new board members of Maytas Infra.
Shares of Maytas Infra on Thursday surged nearly 4 per cent to close at Rs 34.05 on BSE.