Maytas Infra’s board includes R P Raju (independent director), Teja Raju (vice-chairman), PK Madhav (wholetime director and CEO) and Chander Sheel Bansal (wholetime director).

The company’s shareholding pattern as on September 2008 shows that Ramalinga Raju’s son Teja Raju holds 2.53 per cent and other members of the Raju family over 36 per cent.

SATYAMGATE DAY 2:

* BSE to replace Satyam with Sun Pharma on Sensex from Janauary 12, to be removed from BSE-100, BSE 200, BSE-500 and BSE Teck and BSE IT index
* CFO Srinivasan resigns
* ISB dean Rao resigns
* AP govt demands action
* Sebi to scrutinise data of 8 subsidiaries; report expected in next three working days
* Auditing firm Price Waterhouse too may face a reprimand from RBI
* Board to meet on Saturday to take stock of the situation
* Have appointed auditor to ascertain legitimacy of Raju’s email
* Financial results for Q3 09 expected by the end of this month
* New management may recommend action against Raju; many actions possible for company’s future
* Has no knowlegde of Raju’s whereabouts, ‘assumes’ Raju is in Hyderabad
* Liquidity and cash-in-hand were not encouraging though company managed to pay December’08 salaries to 53,000 employees
* Some outstanding payment to vendors yet to be made
* Have to raise liquidity in near term and confident of raising it
* Board relied on audited data on revenue, no inkling about fraud

Source: Business Standard