RC Sinha resigns as Maytas director and chairman

Posted: Friday, Jan 09, 2009 at 2236 hrs IST
Updated: Friday, Jan 09, 2009 at 2236 hrs IST

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Hyderabad: In a fresh turn of events, R C Sinha, the non executive director and chairman of Maytas Infra Limited has resigned from the post of director and chairman of the company. This comes in the wake of Ramalinga Raju’s resignation as chairman of Satyam and his confession to have doctored the balance sheet of the company. According to Maytas Infra’s filing with the National Stock Exchange, Sinha had tendered his resignation owing to personal reasons. And his resignation has been communicated through a letter dated January 6, 2009. When contacted by FE, Sinha reiterated that “my resignation is due to personal reasons and they cannot be made public”. This move can come as a major set back to the company, which is already facing the music because of the Satyam saga. Though technically, Maytas and Satyam are not related, Maytas Infra has always been looked at as a venture backed by the powerful Ramalinga Raju. But after his resignation and his confessions, there have been serious doubts on the capability of the company to raise funds for the projects.

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