Govt moves CLB to sack boards of two Maytas companies

The Government after handing over the Satyam fraud case to CBI, on Tuesday moved Company Law Board (CLB) to supersede the boards of Maytas Infra and Maytas Properties. The two companies are of kins of Raju, the former Chairman of Satyam.

It is believed that there may be more possibility of fraud reportedly in both the companies. The government is also seeking to restrain the present directors from disposing of properties.

Company Affairs Minister Prem Chand Gupta said that CLB had been requested to "nominate government directors on boards of each company".