Govt moves CLB for revamp of Maytas boards

The government is believed to have moved the Company Law Board (CLB) seeking to supercede the boards of Maytas Properties and Maytas Infrastructure - two companies promoted by Satyam's tainted founder Ramalinga Raju.

The Corporate Affairs Ministry had yesterday ordered a 'Serious Fraud' probe into the affairs of the two companies, saying there appeared a "nexus" between the two firms and scam-hit Satyam.