New Delhi, Aug 31 - Infrastructure Leasing and Financial Services (IL&FS) will be the new promoter of Maytas Infra, the company founded by the family of scam-tainted B. Ramalinga Raju, Corporate Affairs Minister Salman Khurshid said here Monday.

'IL&FS will be the new promoter of Maytas Infra following an order of the CLB (Company Law Board),' Khurshid told reporters here at a media briefing on the new order.

IL&FS is the biggest stakeholder with 37.1 percent in the cash-strapped company and will be required to infuse up to Rs.55 crore as liquidity support, according to the CLB order.

Out of its total equity in the company, 22.6 percent is the form of shares pledged to it by the original promoters.

On the Bombay Stock Exchange, the IL&FS scrip soared 15.92 percent to end the day at Rs.265.70, while the Maytas scrip rose 4.98 percent to Rs.112.80.

'IL&FS shall for a period of not less than two years hold a minimum of 26 percent shares in the company and shall keep management control of the company during that period,' said the order.

The minister also said the existing promoter directors of Maytas Infra, the son of the Satyam scam perpetrator B. Ramalinga Raju, vice chairman B. Teja Raju and whole-time director B. Narasimha Rao will step down from the company's board.

Maytas is Satyam spelt backwards.

'The management is being taken over by IL&FS and the two promoter directors will now step down,' said Khurshid.

Two of the four government-appointed directors would stay on the board of the company till September 2010, he said, adding that the names would be finalised shortly.

Maytas has about Rs.3,550 crore in liabilities with about Rs.1,700 crore in bank liabilities, Rs.