Maytas Infra in loss of Rs 490 cr in Financial Year 2008-09
Business Monday, August 31, 2009
“IL&FS will be the new promoter of Maytas Infra following an order of the CLB (Company Law Board),” Khurshid told reporters here.
“IL&FS is the new promoter of the company with immediate effect,” Khurshid said, adding that the existing promoter shareholders will step down.
He said two of the government appointed directors would stay on the board of the company for two years. However, the minister did not disclose details about the officials.
Maytas Infra Ltd. has reported turnover of Rs13.35bn for the year ended March 31, 2009 as against Rs16.37bn for the previous year, a reduction of 19%.
The company has reported a net loss of Rs4.89bn as against a net profit of Rs996.4mn of the previous year.
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Posted by Raj
on Monday, August 31, 2009.
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