Two Of The Govt Nominated Directors Step Down From The Board Of Maytas Infra, Based On CLB Order

Hyderabad, September 23, 2009: The Government of India today issued a notification dated 23rd September, 2009 consequent to the order of the Company Law Board (CLB) dated 31st August, 2009, whereby CLB has ordered induction of new promoter IL&FS in place of existing promoters, withdrawal of two Government directors, and continuance of two directors for a period of two years.

As per the notification, Dr. K. Ramalingam and Mr. O.P. Vaish have been withdrawn as Government directors. However, Mr. Anil K. Aggarwal, past president of Assocham, and Mr. Ved Jain, past president of the Institute of Chartered Accountants of India shall continue to be the Government directors on the Board of IL&FS Engineering and Construction Company Limited.