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Maytas asks govt directors to make declaration
March 13, 2009 15:20 IST
Maytas Infra has requested the government-appointed directors on its board -- O P Vaish and Ved Jain -- to furnish their consent and declarations.
Pursuant to the receipt of the confirmation from the Ministry of Corporate Affairs about the appointment of the two government nominees on board, "We have requested the concerned directors to furnish their consent and other declarations as may be required," the firm said in a filing to the Bombay Stock Exchange.
Former ICAI President Ved Jain and noted tax lawyer O P Vaish was named as new board members of Maytas Infra following Company Law Board permitting the government to appoint four nominee directors, including a chairman, on the company's board.
Last month, the government had sought authorisation of the CLB to supersede the boards of Maytas Infra and Maytas Properties, the firms promoted by the kin of disgraced Satyam [Get Quote] founder B Ramalinga Raju, to prevent mismanagement and enable transparency in their functioning.
"The details regarding further appointment of remaining two directors by the CLB would be issued separately," the filing added.
Shares of Maytas Infra were trading at Rs 34.45, down 4.83 per cent in the afternoon trade on the BSE.