CLB adjourns hearing on Maytas boards till Feb 26
The Company Law Board adjourned the hearing on the takeover of the boards of Maytas Infra and Maytas Properties -- two companies promoted by the kin of former Satyam Computer Chairman B Ramalinga Raju -- till February 26.business Updated: Feb 20, 2009 16:43 IST
The Company Law Board on Friday adjourned the hearing on the takeover of the boards of Maytas Infra and Maytas Properties -- two companies promoted by the kin of former Satyam Computer Chairman B Ramalinga Raju -- till February 26.
Admitting the application of Matyas Infra and Teja Raju, the Company Law Board (CLB) adjourned the dates after the counsel appearing for them requested more time.
Senior advocate U K Choudhary, appearing for Matyas Infra, submitted before the CLB that he recieved the required papers and documents on Thursday only and so he needs 2-3 days more to go through them.
On this, CLB Chairman S Balasubramaniam told the government representative that “you have not served all the copies and papers ... I expect you to serve (them) immediately and you know tomorrow is Saturday.”
However, a deputy director appearing for the government opposed the request and said that the petitions and documents were served by the RoC Hyderabad office at the company’s headquarters.
Earlier this week, the government had moved the CLB to take over the boards of the two Matyas firms. However, the CLB declined to pass the order and directed the government to serve the copies to the companies and had enlisted the matter for hearing on February 24.