State will review deal with Maytas

The Maharashtra State Electricity Distribution Company Limited (MSEDCL) is reviewing the various infrastructure projects awarded to Maytas Infra in September last year.

Maytas Infra, promoted by a son of Satyam’s founder Ramalinga Raju, has been in the midst of controversy ever since Satyam announced last month it was planning to acquire it and unlisted sister concern Maytas Properties, on a combined investment of $1.6 billion. Satyam backtracked after investors protested.

Infrastructure projects for system improvement had to be undertaken in terms of setting up of sub-station, transformers etc. MSEDCL, after the usual tendering procedure awarded the contract to Maytas, a Hyderabad-based infrastructure development company.

“The Rs480.67-crore contract was awarded for projects to be undertaken in Ahmednagar, Beed and Beglur,” said MSEDCL spokesperson.
However, sources from the industry said that the company has been blacklisted and all the further projects have been scrapped.