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Government banks have Rs.3300 crore in Maytas

Neha Dhamija


Though the PSUs did not put any money in Satyam but the subsidiary, Maytas has a considerable amount of Rs. 3,300 crore into it. In this, non-funds amount stands at Rs.1,300 crore while the funds’ value is Rs. 2000 crore.


As was informed by a finance ministry official, the real estate and infrastructure branches of Satyam are involved in huge projects, which are worth about Rs.30,000 crore. This has prompted the government to save these hung-up assignments. Also, the infrastructure arm’s bailout by the government is to continue.


The government’s thoughtful decision of keeping Mayta’s properties de-tached from Satyam’s operations is intended to save projects and taxpayers’ money. B Teja Raju, son of Satyam’s founder Ramalinga Raju runs the subsidiaries. Ramalinga’s admittance that he blew up the numbers in accounts are being touted as his attempts to dilute the attention towards his act of diverting money to other areas.

 
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