Maytas Infra appoints two presidents

HYDERABAD: Maytas Infra Limited, a company owned by the siblings of B Ramalinga Raju, Chairman of Satyam, on Wednesday appointed two Presidents for the company in the process of restructuring the management.

The Maytas Board which met here consecutively for two-days under the Chairmanship of K Ramalingam appointed C S Bansal and Rajendra Nimje as new Presidents, a Maytas release said.

Chairman Dr K Ramalingam and the Board has reposed full confidence in the Revival Plan and restructuring of Maytas Infra, and it has the full support of the Government of India especially Anurag Goel, Secretary, Ministry of Corporate Affairs for its Revival plan.

The Board also approved the draft Corporate Debt Restructuring (CDR) package, and is considering appointment of SBI Capital markets for the purpose.

K Ramalingam also met the Chief Secretary of Andhra Pradesh, Ramakanth Redddy and apprised him of the business plans of Maytas Infra Limited.

The Board also addressed the employees of Maytas Infra Limited and asked them to work whole heartedly for executing projects on hands and for getting new projects, the release added.