Fine imposed on Maytas Properties for violating company laws

HYDERABAD: The economic offences court of Hyderabad on Thursday found Maytas Properties Ltd and its director B Rama Raju, the son of Satyam founder B Ramalinga Raju guilty of violating company laws and imposed penalty on them.
R Sudhakar Naidu, the judge of this court, who heard the three cases filed by the Registrar of Companies (RoC) against them, found Rama Raju and his company guilty of not filing annual returns and balance sheets in two cases and asked them to pay Rs 750 as penalty in each case.
The judge, however, acquitted them in the third case that charged them with not conducting the annual general body meeting as the accused proved that he did conduct the meeting.
Patur Srihari, the prosecutor for RoC, urged the court to impose maximum permissible penalty on the offenders.