Maytas Infra Ltd’s latest board has reformed its management by employing 2 presidents, Rajendra Nimje and CS Bansal. It has also sanctioned the draft CDR package.
The 2 day board meeting winded on Thursday in Hyderabad. It cemented assurance in the revitalization plan and reformation of Maytas Infra.
Now, the company seeks a fresh CEO. According to the reports, at least 2 insiders are also being taken into account. Nevertheless, the board is separated on insiders taking this place. A management team has already been created to guarantee its assignments are not impacted.
The board discussed the economic position, present order book, money flow, human reserve and other matters related with the reformation. The company is contemplating to employ SBI Capital markets for the reason.
The government-led directors suggested the decision after talks with chief lenders. The company could not attain economic closure for the Rs.12,100 crore Hyderabad Metro Rail assignment in March and wanted 6 more months from the government. The board meeting assessed different assignments that are either in diverse phases of execution or seeking economic closure.