 Online edition of India's National Newspaper Sunday, Mar 29, 2009 ePaper | Mobile/PDA Version |
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HYDERABAD: Maytas Infra will draw up a business plan to execute the work on many infrastructure projects being handled by the company for the next financial year (2009-10). The Chief Financial Officer of the company was asked to discuss the plan with bankers, said Ved Jain, the Government-appointed director on the company’s board, here. The board, which met here, reviewed the operations of the construction business and BOT business of the company. Mr. Jain said the company had an order book of Rs. 8,000 crore, excluding Hyderabad Metro Rail (HMR) project. The board met the bankers and vendors and discussed corporate debt restructuring plan. The CFO would work out the strategy for the same. “As we have already requested the government to extend the time to achieve financial closure for the HMR project, there is nothing more we can do at this point in time,” said Mr. Jain. The board accepted the resignation of R. P. Raju, a non-executive director. This leaves only four members on the board — B. Teja Raju, Narasimha Rao, Ved Jain and O. P. Vaish (the last two are appointed by the Government). The board reviewed the operations of construction business and BOT business of the company and also business plan for the year 2009-10. The board of directors of Maytas Properties also met on Wednesday and 500 customers attended the meeting. The board gave necessary instructions to the company on how to go about addressing the grievances highlighted by the customers. To a question, Mr. Jain said there was a land bank available with the company at different places.
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