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Maytas Properties may go to strategic investor
Corporate Affairs Minister Salman Khurshid today said the government is looking at the possibilities of inducting a strategic buyer for Maytas Properties
Ved Jain, the then President of the Institute of Chartered Accountants of India, was appointed Chairman of the company in March 2009 and was give the task to rehabilitate Maytas Properties, a company with interest in real estate in and around Hyderabad. Several Non-Resident Indians who booked flats in projects promoted by Maytas Properties have been asking the government to expedite rehabilitation of the company. The company had raised Rs 650 crore from customers for the Rs 1,100-crore Hill County project near Hyderabad. Maytas Properties reportedly has a land bank of about 6,000 acres. Maytas Properties and Maytas Infra were the two companies which Satyam had tried to purchase in December 2008 but the deal was aborted following objections by shareholders.......http://www.maaproperties.com/
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