March 19: The Citizens for a Better Public Transport (CBPTH), a conglomeration of 15 NGOs, asked the state government should immediately scrap the "concessional agreement" it has entered into with Maytas to develop the Metro Rail project in Hyderabad. The CBPTH on Thursday held a demonstration in front of the Metro Rail Bhavan demanding the immediate termination of contract as the Maytas failed to deposit a bank guarantee of Rs 240 crore as performance security before the deadline on March 17, which was 180 days from signing the CA on September 19, 2008. "Any attempt to extend the deadline will be tantamount to distortion of the provisions of the CA and an outright favour to Maytas. There is no provision for extension in the CA," said Dr C. Ramachandraiah, convenor of the CBPTH. He said Maytas is now seeking the extension of the deadline for financial closure by another six months.