Mauritius bank moves HC against Sujana
HYDERABAD: Mauritius-based Mauritius Commercial Bank Ltd has moved the Hyderabad High Court seeking winding up of Sujana Universal Industries Ltd, owned by Union minister of state for science and technology 'Sujana' Chowdary, alleging that the company had defaulted on the `92- crore loan it availed through its Mauritius subsidiary, Heista Holdings Ltd.
The Mauritius bank also asked the court for appointment of a liquidator to liquidate the minister's company and, in the meantime, prevent the management from selling the company's assets. The outstanding dues from the firm, including interest and penal charges, have shot up to `106 crore, it claimed.
News Posted: 11 November, 2014
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