The Ministry of Corporate Affairs, Registrar of Companies (ROC), Andhra Pradesh, has registered the change of name of Maytas Properties Ltd to Hill County Properties Ltd.

A fresh Certificate of Incorporation was issued on August 16 under the Companies Act, 1956.

Arun Saha, Chairman, Hill County Properties Ltd in a statement said, “We at IL&FS wanted the past legacy to end and change of name was one of them. Despite our best efforts, many of our customers and stakeholders were a bit sceptical of the Maytas name. Now, with this new name, we will continue to work with renewed vigour to take the company forward.

Today we take great pride that IL&FS Group has been able to salvage and rebuild the company and work at Hill County Township, the flagship project of Hill County Properties Ltd,” Saha said.

Ved Jain, Director and nominee of Union of India on the board of Hill County Properties Ltd said, “Many of our stakeholders had misgivings about the Maytas name and their apprehensions will now be allayed given a new name and a renewed focus. Having put in a lot of effort to rebuild MPL, IL&FS Group deserves this name change and I look forward to IL&FS Group carrying on the exceptional work.”

Hill County Township, the flagship project of Hill County Properties Ltd, is spread over 85 acres of land with 326 villas and 840 apartments in 11 towers. It is an iconic township project in Hyderabad.

According to the Order of the Company Law Board (CLB) on January 13, 2011, the IL&FS Group entities, IL&FS Engineering & Construction Company Ltd and IL&FS Financial Services Ltd, had acquired an 80 per cent stake in the paid-up capital of the company.

The company was impacted by the mega Satyam Computer scam that came to light in 2009.

>rishikumar.vundi@thehindu.co.in

Related Topics
comment COMMENT NOW