Various agencies, including the state Crime Investigation Department, probed Maytas after Raju admitted to serious financial misdeeds at Satyam Computer.
Allegations emerged that funds from Satyam were diverted to Maytas, causing government agencies to audit the infrastructure company's records as well.
[7] The Economic Times reported that the Andhra Pradesh government had paid Rs.1,800 crore to Maytas Infra towards works under the irrigation department's Jalayagnam project.
[8] The Maytas Infra-led consortium failed to achieve financial closure and give a performance guarantee, the state government of Andhra Pradesh was forced to cancel the concession agreement with the group on the Rs 12,132-crore Hyderabad Metro Rail project.
[10] In January 2011, The Company Law Board allowed IL&FS to acquire a controlling stake in Maytas Properties.
[11] IL&FS acquired 80% of the equity in Maytas Properties (MPL), as per the order issued by the CLB on Thursday.