He is not connected to or associated with the borrowings made by it
Y S Sujana Chowdary
Hyderabad: Sujana Universal Industries Ltd on Wednesday, in a statement, clarified that Y.S. ‘Sujana’ Chowdary, the Union minister of state for science and technology, has nothing to do with the issue relating to the wind-up petition filed by Mauritius Commercial Bank against Hestia Ltd, and that he is not connected to or associated with the borrowings made by it.
It was also clarified that Mr Chowdary was neither a director nor a shareholder in the borrower company, and he has not received any notice either in his personal capacity or in any
capacity. It said that it was the borrower company and the guarantor company, who received a copy of the application on behalf of Mauritius Commercial Bank for winding up of the guarantor company for which the company has filed a counter before the High Court.
The matter relates to the alleged default of repayment of loan of Rs 106 crore taken by Hestia Holdings Limited, Mauritius, for which Sujana Universal Industries Limited provided corporate guarantee and the winding up petition was filed by Mauritius Commercial Bank, Mauritius.
( Source : dc correspondent )
Next Story
