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Maytas Infra approaches Govt for help

Faced with massive cash-crunch, Maytas Infra, a company promoted by kin of Satyam founder B Ramalinga Raju, has asked the government not to hastily withdraw projects awarded to it.

business Updated: May 28, 2009 00:28 IST

Faced with massive cash-crunch, Maytas Infra, a company promoted by kin of Satyam founder B Ramalinga Raju, has asked the government not to hastily withdraw projects awarded to it.

According to sources, Maytas Infra has written to the Corporate Affairs Ministry requesting for support from government agencies that have allotted various projects to it.

When contacted, Maytas Infra Chairman K Ramalingam confirmed the development and said, “After Satyam, many clients, including the government departments, who awarded projects to us have become panicky. We have asked the MCA to coordinate with government departments and support us.”

He said the company is commercially viable and with a little support, it can manage through choppy water.

Ramalingam added that the company has written to various government departments, who had awarded projects to the firm, and asked them not to panic due to the financial scam at Satyam Computer.