The Nampally Court has today issued an arrest warrant against noted Industrialist and TDP’s union minister Y Sujana Chowdary in the Mauritius Commercial Bank fraud case. The court issued the arrest warrant after Sujana Chowdary failed to appear for three consecutive hearings.
The next hearing has been postponed to April 26. It is well known that Sujana Chowdary and the Board of Directors of Sujana Universal Industries have been facing various charges under the IPC, including cheating, and dishonesty after the Mauritius-based Hestia Holdings Ltd, a subsidiary of Sujana industries, failed to repay the Rs. 106 crores loan it took from the Mauritius Commercial Bank between February and June 2012. Sujana Chowdary stood as one of the guarantors for the loan.
The Mauritius Commercial Bank approached the Hyderabad Civil Court in 2014 requesting the execution of a London court’s order which directed Sujana Chowdary to repay the full loan amount with interest including 60 lakhs fine, which was also dishonored by the TDP MP.
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