IL&FS says will take a year to restore buoyancy in Maytas Infra
Maytas Infra's new promoter IL&FS today said the company is still moving through a difficult period and it would take at least a year to restore buoyancy.
By PTI |
HYDERABAD: Maytas Infra's new promoter IL&FS today said the company is still moving through a difficult period and it would take at least a year to restore buoyancy.
"The company (Maytas) is still moving through a very difficult period and probably it may take a year if not more to restore stability in its operations," IL&FS Chairman Ravi Parthasarathy told reporters at a joint press conference of after being a special invitee to meeting of the Maytas Board of directors here.
Parthasarathy, who is likely to take over as the new chairman of the Maytas board announced three nominees for directors post in the new Maytas board, including IL&FS Managing Director Hari Sankaran, its Deputy Managing Director Arun K Saha and President and CEO of IL&FS Transportation Networks K Ramchand, who will be inducted once the SEBI process will complete.
Stating that IL&FS was committed towards infusion of liquidity into the company, Parthasarathy, said "Bankers have asked for some Rs 40 crore to infuse and we have gone over that limit and infuse probably to Rs 50 crore, which is the requirement of the day."
"The company (Maytas) is still moving through a very difficult period and probably it may take a year if not more to restore stability in its operations," IL&FS Chairman Ravi Parthasarathy told reporters at a joint press conference of after being a special invitee to meeting of the Maytas Board of directors here.
Parthasarathy, who is likely to take over as the new chairman of the Maytas board announced three nominees for directors post in the new Maytas board, including IL&FS Managing Director Hari Sankaran, its Deputy Managing Director Arun K Saha and President and CEO of IL&FS Transportation Networks K Ramchand, who will be inducted once the SEBI process will complete.
Stating that IL&FS was committed towards infusion of liquidity into the company, Parthasarathy, said "Bankers have asked for some Rs 40 crore to infuse and we have gone over that limit and infuse probably to Rs 50 crore, which is the requirement of the day."
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