While the books of accounts of Maytas Infrastructure are under scrutiny of investigating agencies that are also probing the Satyam scam, the company has sought a one-month extension in the date for announcement of their third quarter results.
Maytas had sought more time as it is currently engaged in providing data to investigating agencies that are scrutinising the Satyam scam. “For the past 25 days, our accounting and auditing department are busy providing details to the investigating agencies,” said the company spokesperson.
Various investigating agencies including the state Crime Investigation Department (CID) have been scrutinising Satyam’s plan to acquire Maytas that raised investors’ concern.
Meanwhile, Maytas share price hit the lower circuit, falling by another 5 per cent on Thursday, the 11th successive day when it fell to its lowest permissible limit to close at Rs 95.
According to the stock market regulations, all listed companies are required to declare their quarter ending results within one month after closing their books of accounts and this is what Maytas Infra is looking an exception from.