sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 PCIT vs. Perfect Circle India Pvt. Ltd (Bombay High Court)
 The National Company Law Tribunal (Amendment) Rules, 2019 notified
 Get income tax refund in one day from 2020
 Your ITR filing will soon get processed in just one day
 Here's how These new tax laws allow you to save more tax in FY2018-19
 Income tax exemption limit may be doubled to Rs 5 lakh in interim budget
 How to use home loan and rental outgo to save income tax
 Income Tax Department Income Tax Return Statistics Assessment Year 2017-18
 Section 80C limit: Should you use only life insurance to save taxes?
 Calculate your tax liability for assessment year 2019-20 here
 Here is how to maintain tax discipline in the last quarter of the fiscal

Maytas to approach Company Law Board again for induction
September, 24th 2010

Maytas Infra on Thursday said it would file a review petition with the Company Law Board which recently rejected the company's proposal to induct four directors of Saudi Bin Ladin Group on its board.

"We are studying the circumstances under which the orders have been passed (by CLB). We are in touch with the government and we will probably file a petition with the CLB again. The government has also filed an affidavit indicating its full support," Ravi Parthsarathy, chairman IL&FS told reporters on the sidelines of company's Annual general meeting held on Thursday.

CLB had rejected the company's application to induct four directors of SBG on its board last month.

Meanwhile, responding to a query on the One-time settlement with banks, he said the settlement has been reached with seven banks and it would be finalised soon with the remaining two- BNP Paribas and Standard Chartered Bank.

The company, taken over by IL&FS in the aftermath of Satyam scam, had negotiated with its lenders for a viable package as part of debt restructuring program. Nine banks had accepted one-time settlement of Rs 400 to Rs 450 crore.

He said the pricing of the debt has been reduced to seven per cent in the first year and in the second and third year it will be increased by which time he hoped that the company would be able to afford to pay higher rate.

Speaking about the dispute involving Rs 323 crore Inter Corporate Deposits (ICDs), he said the company is hopeful that Mahindra Satyam would acknowledge the liability towards Maytas in its re-audited financial results, which will be announced on September 29.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions