Monday, November 29, 1999

Maytas Infra board to meet June 19 for roping in investor

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Maytas Infrastructure said on Friday its board will meet on June 19 to consider roping in an investor and consider terms of preferential allotment to the investor.The board of the infrastructure firm will also discuss issues related to the restructuring of the debts of the company, it said in an exchange filing.Maytas that was controlled by the family of Ramalinga Raju -- ex-promoter of Satyam Computer Services who resigned after accepting to have inflated its profits for years --- saw change in its promotership when IL&FS Group had acquired controlling stake in it.IL&FS Group holds 37.01 percent stake in the firm as on March 31.(Reporting by Ketan Bondre; Editing by Ramya Venugopal)

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