A day after handing over Satyam probe to CBI, the government on Tuesday moved Company Law Board (CLB) to supercede the boards of Maytas Infra and Maytas Properties, the two firms promoted by the kin of disgraced promoter of Satyam Computer B Ramalinga Raju."In order to prevent further acts of fraud against the said companies (two Maytas companies) and to safeguard operations of these companies in public interest, the government has moved the CLB to remove the existing directors of these companies," Corporate Affairs Minister Prem Chand Gupta told reporters on Tuesday.
The government, he said, has also requested the CLB to bar the existing board members of the two companies from becoming directors in any other company.In addition, Gupta said, the government is also seeking to restrain the present directors from disposing of properties.
