Maytas seeks confirmation from 2 government nominee directors

13 March 2009

Pursuant to the receipt of the confirmation from the ministry of corporate affairs about the appointment of the two government nominees on board,  Maytas Infrastructure Ltd  has requested the government-appointed directors on its board - OP Vaish and Ved Jain - to furnish their consent and declarations.

The company had earlier informed the Bombay Stock Exchange (BSE) of the receipt of the copy of the order issued by the under secretary to the Government of India, ministry of corporate affairs, confirming the appointment of O P Vaish and Ved Jain as directors of the company.

"We have requested the concerned directors to furnish their consent and other declarations as may be required," Maytas said in its filing with the BSE.

Jain is former president of the Institute of Chartered Accountants of India (ICAI) while Vaish is a noted tax lawyer. Their appointment follows the Company Law Board's nod for appointment of four new directors on Maytas Infra board, including a chairman.

The government had, last month, sought CLB's approval for superseding the boards of Maytas Infra and Maytas Properties – two firms promoted by the kin of disgraced Satyam founder B Ramalinga Raju - to prevent mis-management of the firms.

"The details regarding further appointment of remaining two directors by the CLB would be issued separately," the filing added.