Fight for Maytas cos' control hots up

HYDERABAD: The battle for control over Maytas Infra and Properties is going to be a hotly contest one with the Raju claims to the company likely to be based on the argument that the promoters of the two companies are Teja Raju and Rama Raju (junior) respectively and there is no criminal case against them. Also the Raju lawyers are going to assert that the Rajus still hold 21.5% of the equity of Maytas Infra apart from the 15.14% equity of the company that Ramalinga Raju, Nandini Raju and Rama Raju (junior) have pledged to financial institutions.In Maytas Properties, the Raju family still owns 100 per cent of the equity, the lawyers will point out to the CLB. Teja and Rama Raju (junior) are two sons of Ramalinga Raju.
Investigations by TOI reveals that the Raju claim on Maytas Infra is based on the shareholdings of Teja's wife Divya and minor daughter Anjali. This aggregates 3.66%. But 43 unlisted companies under the control of the Rajus still own 17.84% of Maytas Infra's equity. "There has been no wrong doing detected in Maytas firms, there is no case filed or pending in any law of court," an analyst said.