Supreme Court jolt to Sujana Chowdary TDP MP and Union Minister Sujana Choudhary get a setback in the Supreme Court today .Few days before Hyderabad high court' found fault with Sujana's company for its failure to repay loan amounting to Rs 105 crore.
Earlier, a company named Hestia Holdings, a Sujana Industries associate loaned Rs 100 crores from a Mauritius Bank. Sujana Industries was signed as the guarantor for the loan. Bank approached Guarantor Sujana Industries after Hestia Holdings refused to repay back the loan amount of 100 crores. The Commercial Bank appealed to court to permit them to liquidate from the Sujana Industries. The HC ordered to pay the sum total of 100 crores by September 30th.
Challenging the HC decision Sujana company have approached Supreme court on the matter and the petition has been taken up for hearing by the Court. It vented anger on Sujana's attitude as he was unwilling to repay the amount asked by MCB. The court echoed with the HC judgement that the loan to be repaid to Bank should be liquidated from the Sujana Industries.
News Posted: 1 September, 2015
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