CLB to appoint independent directors, chairman on Maytas board

Written by fe Bureau | New Delhi | Updated: Mar 1 2009, 05:14am hrs
The Company Law Board (CLB) on Friday said that it would appoint four independent directors on the board of Maytas Infra including its chairman. I would appoint four people, that I have in mind, on the board of the company (Maytas Infra) . Of the four, one would be appointed as chairman. Let the appointed board take its course, said CLB chairman S Balasubramanian while reserving his order over governments plea to supersede the board of the company. This was also accepted by the counsels representing the Maytas Infra. The company has proposed strength of nine directors on its board, including four independent directors. During the proceeding, the Maytas counsel suggested some names for the post of independent directors which included names of some former CLB chairmen and members, and former MRTPC members.The board, however, immediately rejected it and returned the list of the names to Maytas counsels.