Maytas lived off Satyam funds

New Delhi: With preliminary indications pointing to the startling fact that the profits of Satyam Computer Services were diverted to fund the entire activities of Maytas Infra, including buying land within the state and elsewhere in the country, the Andhra Pradesh government has decided to seek a CBI enquiry into the fraud committed by B Ramalinga Raju.
"The trail is complex and multi-faceted. There are indications of hawala transactions amounting to crores of rupees. To run through the maze and establish the crimes, what is called 'forensic auditing' is required. And only the CBI can do that. Therefore, we have decided to seek a CBI enquiry into the fraud which is assuming gargantuan proportions now," a top official told TOI.
Set up in 1988, Maytas Infra has in the last two decades bagged massive projects all across India in constructing ports, airports, roads, expressways, highways, buildings and industrial structures, irrigation canals and dams and thermal and hydel power projects. "We are seeking a CBI enquiry into the Satyam scam as it appears that all the money invested in Matyas belongs to Satyam," the official said.
But what may turn embarrassing for the state is that the same Maytas is involved in several projects in the state.
The request for CBI enquiry will, in all likelihood, be made on Monday, state government sources said.
11/01/09 Times of India

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