Satyam Computers Corporate Governance Fiasco (G): Maytas Satyam?
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Code : GOV0047
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Region : US |
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A Close Look at Hyderabad Metro Rail (HMR) Project The HMR project, worth INR 12,200 crore (approximately $2.5 billion) is India’s first two-track elevated transit system. HMR project was planned to comprise three lines with a total of 66 stations for a distance totalling 71.6 km (including a distance of about 38 kms within the city) covering the areas in and around Hyderabad.... Did State Government Favour Maytas? Did the Congress Government walk that extra mile in the allotment of prime lands and projects to Satyam and Maytas Infra.? The pace and ease with which the group kept “winning” projects during the last three years gives rise to this question... Satyam Computers-Maytas Deal: A Thorn in the Flesh? History repeats itself. In the same lines, the conflict that first erupted in 1992 between the shareholders and Satyam promoters with respect to investing out of Satyam Computers’ funds in other businesses run by Satyam promoters, once again showed its dirty face in 1998. It recurred once again in December 2008 and this time the problem became almost irrepressible as the parent company announced the takeover of Maytas twins... |
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Impact on Maytas: Playing with Credibility LConfirming its immunity to Satyam’s corporate governance fiasco, Maytas Infra on January 6th 2009 announced that it won a project from Southern Railways worth INR 110 crore to double the broad gauge track from Chengalpattu to Villupuram in Tamil Nadu. It was a JV with Chennai-based C.T. Ramanathan & Co. and was to be executed in 18 months from the date of agreement...
