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Maytas wants results' date extended by a month

January 22, 2009 15:26 IST

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Maytas Infra has sought a month's extension of the date for announcing its third-quarter results.

The company, promoted by former Satyam Computer Services [Get Quote] 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 told PTI in Hyderabad on Thursday.

Various agencies, including the state Criminal Investigation Department, have been probing the Maytas affair after B Ramalinga Raju admitted to serious financial fraud in Satyam.

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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