Monday, August 31, 2009
Maytas diverted Rs.390 crore to Satyam: Khurshid
"When the accounts are stated, this will become clear as to where the money has gone," said Khurshid while briefing reporters on a new Company Law Board (CLB) order regarding Maytas Infra.
"But there is prima facie some evidence that about Rs.390 crore has gone from Maytas to Satyam", he added.
In the order, the CLB allowed Infrastructure Leasing and Financial Services to take over management control of Maytas, which is Satyam spelt backwards.
IL&FS is the biggest stakeholder with 37.1 percent in the cash-strapped company and will be required to infuse up to Rs.55 crore as liquidity support, according to the CLB order.
Of its total equity in the company, 22.6 percent is the form of shares pledged to it by the original promoters.