R C Sinha quits as Maytas Infra chairman

08 January 2009

Satyam promoters' construction outfit Maytas Infra Ltd said on Thursday that RC Sinha, chairman and non-executive director of the company, has tendered his resignation.

Sinha sent in his resignation on 6 January, citing personal reasons, Maytas said in a statement to the stock exchange.

''R C Sinha, non-executive director and chairman of Maytas Infra Ltd, tendered his resignation from directorship as well as chairmanship at the company owing to personal reasons,'' Maytas said in a filing with the National Stock Exchange.

Maytas Infra's board of directors include R P Raju (independent director), B Teja Raju (vice chairman), PK Madhav (whole-time director and CEO) and Chander Sheel Bansal (whole-time director). Promoters of Satyam Computer Services hold 36 per cent stake in Maytas Infra.

Teja Raju, son of Ramalinga Raju, held 2.53 per cent stake in Maytas Infra, while the entire promoter group, which includes other members of the Raju family, held over 36 per cent of the company's shares as of September 2008.

On 7 January, Ramalinga Raju tendered his resignation as chairman of Satyam Computer disclosing accounting fraud.