T- govt’s 2627 Cr notice to Ramalinga Raju!

Telangana government had slapped a notice to Ramalinga Raju’s Maytas company. Maytas was the first concessionaire of Hyderabad Metro. Telangana government alleges that due to the company, the government had incurred a loss of 2627 Crore and asked it to compensate for the loss.

[m9ad]

Maytas is already in neck deep legal troubles and the company can not shell such huge amount anyways. Maytas was asked to deposit 250 Crore for the project but the company just deposited back then. Subsequently, the project went to L&T and the government then gave them a concession of 1450 Crores.

Now Maytas is asking its security deposit back and it knocked the door of the court on this issue. The court had asked both the parties to settle the issue directly. As a retaliation the government had slapped this notice.