Rift between Maytas Infra and Mahindra Satyam
The troubled technology company Mahindra Satyam has passed the tough waves for past several months but the company has again hit a hurdle with the firm Maytas infra recently.
While it has now been more than 18 months since the accounting fraud at the IT major Satyam imploded, a former sister concern of the firm, Maytas Infra has recently been asking for the Rs 324 crore that it had lent to Satyam before Mahindra came into picture.
Notably, the whopping amount came into picture after the examination of Maytas books but the infrastructure giant has even asked the Ministry of Corporate Affairs (MCA) to help recover the money.
However, Mahindra Satyam has already expressed its inability to refund the money as the company said that the restatement of the accounts is going on currently.
It is still not clear whether Maytas have the right to claim the money, but the company has also approached the MCA to resolve the issue. Experts are of a view that it will take much more time than expected at the outset and even the final result is not known by any chance.
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