Ramalinga Raju

Recent Posts

IL&FS takes control at Maytas Infra

The government-nominated board of directors of Maytas Infra met today to consider a buyout proposal for the company. The company has said that it has received a proposal to substitute the existing promoters, the Ramalinga Raju family, and take over management control. The board has forwarded this proposal to the Company Law Board for appropriate directions.

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Satyam sale enters final stage today

The board is expected to open financial bids on Monday submitted by a few bidders remaining at the last stage. Among them are believed to be Tech Mahindra, L&T, Cognizant Technologies and some private equity funds. If the gap between the first and losing bids is less than 10%, then there will be open auction. The highest bidder in the auction will be declared the new owner.

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