Maytas Properties is in talks with some developers who are willing to bring in

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the necessary funds to complete the construction of the Hill County Project. Maytas Properties and its promoters are totally committed to complete the project and protect the interest of the customers, the company said in a statement.

The development comes a day after Hyderabad Police registered cheating and criminal breach of trust cases against the company’s promoters. Unlisted Maytas Properties is owned by the family of disgraced Satyam Computer Services founder Ramalinga Raju.

“Maytas Properties currently has inventory and receivables far exceeding the amount required to complete the construction of the project. If the necessary funds of Rs 100-150 crore are infused into the project, the company will not only become financially healthy, but will also pave the way for handing over of the completed properties to the customers,” R Sumith Reddy, head (residential), said.

Hill County customers have been at loggerheads with company management, as they have been paying monthly loan installments even though they haven’t got possession of their properties. Some customers have held demonstrations at vice chairman Rama Raju Jr’s residence and even organized a hunger strike as a mark of protest against the delay in executing the project.

“The company has initiated talks with developers who will bring in the required funds in order to complete the construction of the apartments as well as the independent houses and hand over the same to the customers.”