Rajus pledged their holding to lenders, reveals Maytas

February 9th, 2009 - 5:47 pm ICT by ANI  

Ramalinga Raju

New Delhi, Feb 9 (ANI): Maytas Infra made a startling revelation to the Bombay Stock Exchange on Monday that three of its promoters–B Ramalinga Raju, B Rama Raju and B Nandini Raju had pledged their entire holdings of 15.14 percent to lenders.
While Ramalinga Raju, the former chairman of fraud-hit Satyam Computers pledged his holding worth 48.54 lakh shares, which is 8.25 percent of the paid up capital of Maytas Infra, B Rama Raju pledged 14.85 lakh shares representing 2.52 per cent stake in the firm.
The company further revealed that B Nandini Raju pledged 25.73 lakh equity shares or 4.37 per cent holding in the company.
The other promoters of the firm include Ramalinga Raju’’s son B Teja Raju who holds 2.53 per cent stake, SNR Investments Pvt Ltd holding 8.92 per cent, Veeyes Investments with 8.92 per cent and B Ramalinga Raju HUF holding 1.13 per cent.
These seven promoters held a joint stake of 36.64 per cent in Maytas Infra.
In a bid to end future company frauds like the 7,800 crore Satyam scam, the Security and Exchange Board of India (SEBI) had issued a notice asking the companies to disclose the shares pledged by their promoters.
The share index of Maytas Infra has been constantly dipping since the past 22 trading sessions.
The market share the company dipped by nearly five per cent at Rs 54.50 on the Bombay Stock Exchange today. (ANI)

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