C S Bansal quits as whole-time director of Maytas Infra

31 January 2009

C S Bansal, whole-time director of the board of Maytas Infra resigned on Friday in the wake of the state government announcing a probe into the company which had bagged several prestigious projects including the Hyderabad Metro with other consortium partners.

Bansal will, however, continue as president, oil and transportation sector ayt Maytas according to a company statement.

B Narasimha Rao will take over as an additional director of the company.

The  board now comprises thee member including Teja Raju, the son of Ramalinga Raju and an independent director RP Raju.

The company's top slot has been shrinking since last month. Also there has been no overall incharge since Ramalinga Raju's 7 January confession; Teja Raju has also been staying away from the workplace for the last 20 days, while independent director R P Raju, a medical doctor, is not familiar with the functioning of an infrastructure firm.

At the Maytas board meeting yetsterday, the directors also accepted resignations that have been trickling in throughout January.