Maytas Infra CEO quits
January 19th, 2009 - 7:39 pm ICT by IANS
Mumbai, Jan 19 (IANS) Maytas Infra chief executive P.K. Madhav has resigned, the company announced Monday.”P.K. Madhav, the whole-time director and chief executive officer of Maytas Infra, tendered his resignation from directorship as well as CEO of the company owing to personal reasons,” Maytas said in a regulatory statement.
Maytas Infra, promoted by a son of Satyam Computer’s disgraced founder B. Ramalinga Raju, has been in the midst of controversy ever since Satyam announced last month it was planning to acquire it, and unlisted sister concern Maytas Properties, on a combined investment of $1.6 billion. Satyam backtracked after investors protested.
Earlier in the day, Vedanta Aluminium, a subsidiary of the London-based Vedanta Resources, confirmed to IANS that it had terminated a contract awarded to Maytas Infra to develop a Rs.233-crore (Rs.2.33-billion) integrated township project in Orissa.
Maytas Infra’s non-executive director and chairman R.C. Sinha has already resigned.
- Maytas chief executive resigns from board (Lead) - Jan 19, 2009
- Government to remove two Maytas firms' directors (Lead) - Feb 18, 2009
- Maytas Infra chairman resigns, cover-up feared (Lead) - Jan 08, 2009
- Maytas Infra files criminal case against Vedanta - Feb 26, 2009
- Maytas director C.S. Bansal quits - Jan 30, 2009
- Government asks Company Law Board to remove Maytas directors - Feb 17, 2009
- Vedanta terminates Maytas contract in Orissa - Jan 19, 2009
- Maytas Infra loses second project in Orissa - Feb 03, 2009
- Serious Fraud Investigation Office to probe Satyam-Maytas nexus - Jan 19, 2009
- Maytas Infra chairman Sinha resigns too - Jan 08, 2009
- Satyam postpones board meeting to Jan 10 - Dec 28, 2008
- Maytas denies receiving funds from Satyam - Jan 20, 2009
- Maytas' legal notice to Vedanta for encashing bank guarantees - Feb 05, 2009
- Independent director Prasad to continue on Satyam board (Lead) - Dec 30, 2008
- Raju's family firms deny receiving funds from Satyam (Lead) - Jan 20, 2009
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