Business News This Week
Maytas Infra Ltd, promoted by the family of beleaguered Satyam Computer Services founder B Ramalinga Raju, has approached the Andhra Pradesh government for three months of extension for financial closure of Hyderabad Metro project.
The deadline for achieving financial closure of Rs 12,132 crore Hyderabad Metro project came to an end on Tuesday. The company will now have to submit a Rs 240 crore bank guarantee and will get a 60-day breather by paying penalty, the media reports quote.
Hyderabad Metro Rail Limited (HMRL) Chairman CVSK Sarma said Maytas had sought a six-month extension.
The deadline for achieving financial closure of Rs 12,132 crore Hyderabad Metro project came to an end on Tuesday. The company will now have to submit a Rs 240 crore bank guarantee and will get a 60-day breather by paying penalty, the media reports quote.
Hyderabad Metro Rail Limited (HMRL) Chairman CVSK Sarma said Maytas had sought a six-month extension.
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