After Satyam, focus now on Mytas
After the scam tainted Satyam, its most important subsidiary, Maytas Infra has come into the focus of attention of everyone. The Andhra Pradesh government ordered an assessment of Mytas Infra capability to execute Rs. 30,074 crore worth of projects spanning irrigation, roads, rail and ports.
The A.P. government’s review comes in the wake of the Satyam fiasco and the Opposition accusation that Maytas Infra was favoured in these projects on the ground that those in high echelons of power had stakes in it.
Corporate Affairs Minister Prem Chandra Gupta too had announced that investigations by the Registrar of Companies and the Securities and Exchange Board of India would encompass Satyam and its seven subsidiaries, including Maytas Infra.
The increasing scrutiny would make it difficult for Maytas Infra to raise resources to deliver such a huge order list, given the beating its credibility took. In fact,