Maytas contests termination

By S A Ishaqui

Hyderabad,July 27: Maytas Infra limited filed a writ petition in the Andhra Pradesh High Court against the termination of the concession agreement by the state government for the proposed Hyderabad Metro Rail Project.

Mr Bandaru Narasimha Rao, director, Maytas Infra, filed the petition stating that the government forfeited the bid security amount of Rs 60 crore and bid offer amount of Rs 11 crores submitted by them. He said that the government also purported to ground the project by inviting bids afresh.

He contended that the action of the government was unreasonable and did not take into account the hindrances and hurdles which were beyond their control. The petitioner urged the court to declare the action of the government in cancelling the concessional agreement as illegal and prayed the court to stay all further proceedings pursuant to Bid notice issued by the Metro Rail Corporation issued on July 16.

Meanwhile, the Central Bureau of Investigation told the High Court that the Polygraph and Brain Mapping tests on Satyam founder, Mr B. Ramalinga Raju, his brother Mr B. Rama Raju, and former Chief Financial Officer, Mr Vadlamani Srinivas, was vital to collect further evidence and bring out the truth and unearth the whole scam.
The CBI on Monday filed its written objections against the appeals filed by Mr Ramalinga Raju and his associates against a lower court’s order permitting the CBI to conduct the tests on them. While praying the court to dismiss the petitions, the CBI contended that the scam was perpetrated by the trio over several years and is very serious in nature wherein interests of large number of shareholders and public are involved.

“This is the biggest of all scams unearthed within the corporate sector of India till date.” the CBI added