MP Rana
After facing certain criticism regarding the acquisition deal of Maytas Infra from the investors and the government, the promoters of Maytas Infra- Ramalinga Raju (Chairman of Satyam Computer Services) and his sons, has now appointed Teja Raju for the role of CEO of the company.
Teja Raju is now supposed to mentor the company as the new CEO in addition to his previous role of Vice President. This move by the promoters is specifically due to arrest incidence of the present CEO of Maytas Infra PK Madhav. He is accused of defaulting payments related to the investors of Nagarjuna Finance Limited for an approx sum of Rs 100 crore.
PK Madhav is sent to the judicial custody for investigation and Teja Raju will take up his position for the time being.
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