Maytas Infra CEO Resigns

by CXOtoday Staff    Jan 19, 2009

In a communiqu to the BSE, Maytas Infra has informed that P.K Madhav, director and CEO of the company has tendered his resignation. The company has informed that the decision was taken due to ‘personal reasons.’

Earlier this month, R C Sinha, chairman and non-executive director of Maytas Infra had also sent in his resignation.

Maytas Infra’s board of directors now includes R P Raju (independent director), B Teja Raju (vice chairman), and Chander Sheel Bansal (whole time director).
While Raju and family hold 36% stake in Maytas Infra, his immediate family owns 35% in Maytas Properties, an unlisted firm. According to Maytas Infra’s shareholding pattern as on September 2008, Ramalinga Raju’s son Teja Raju held 2.53% stake, while the entire promoter group, which includes other members of the Raju family, holds over 36%.