ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Maytas, Hyderabad Metro and the Politics of Real Estate

In the 10 days since the revelation of the massive fraud at Satyam, there has been much speculation that the holes in the software company's books were caused by the promoters' links with Maytas, the infrastructure company that in recent years has become the favourite of the government of Andhra Pradesh. This article puts under the magnifying lens the award in 2008 of the massive Rs 12,000 crore contract to Maytas to build and operate the Hyderabad Metro.

Scams Together: Satyam-Maytas-Metro Rail

The decision by Satyam Computers to acquire Maytas Properties and Maytas Infra had to be called off thanks to protests by shareholders. The speed with which Satyam tried to divert investors’ money to the two firms managed by the family of the promoter, B Ramalinga Raju, may have been prompted by...
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