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Tuesday May 5, 06:30 PM Reuters

Maytas Infra in talks with ICICI, SBI Caps for CDR

NEW DELHI (Reuters) - Maytas Infra Ltd, a company linked to fraud-hit Satyam Computer Services (SATYAM.BO : 90.55 -2.2), is in talks with ICICI Bank (ICICIBANK.NS : 850.9 -14.6) and SBI (SBIN.NS : 2242.9 -11.75) Capital Markets for corporate debt restructuring (CDR), its director said on Tuesday.

The Hyderabad-based construction company has 17 billion rupees of debt and an order book of 85 billion rupees, Ved Jain, a member of the board, told a news conference.

The company didn't include the 150-billion-rupee Hyderabad metro project in its order book because it has not yet achieved financial closure, he added.

Maytas Infra was promoted by the family of Ramalinga Raju, the former chairman of Satyam who resigned after revealing profits of the software firm were inflated.

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