Maytas

Maytas ("Satyam" read backwards) refers to a group of companies founded by B. Ramalinga Raju. It includes Maytas Properties and Maytas Infra Limited.

Maytas Properties

A property development company founded in 2009. The Ernst & Young is the statutory auditor of CS Properties. It was run by B. Ramalinga Raju. In January 2009, Raju resigned as chairman of company admitting to a massive fraud in the company. Raju was arrested on the same day and was later imprisoned. Subsequently, the Company Law Board had cleared the decks for IL&FS to acquire the company in 2011. In August 2013, The name of Maytas Property Limited (MPL) has been changed to Hill County Properties Limited (HCPL) by its new owner IL&FS.

Maytas Infra Limited

An infrastructure development, construction and project management company. Maytas Infra was originally run by Satyam Computer Services founder B Ramalinga Raj. It came under the scanner due to its association with B. Ramalinga Raju. Various agencies, including the state Crime Investigation Department, probed the Maytas affair after B Ramalinga Raju admitted to serious financial scam in Satyam Computer. Also, there were allegations that funds from Satyam were diverted to Maytas, causing the Government agencies to verify the infrastructure company’s records as well. Maytas Infra later requested for an extension of its quarterly results due to these investigations.