Hyderabad: The Mauritius Commercial Bank on Thursday urged the Hyderabad High Court adjudicate its plea to wind up Sujana Universal Industries Ltd.
The counsel representing the Bank submitted that the proposal made by the Sujana Industries for the repayment of Rs 106 crore owe to the Bank is not accepted by the Bank authorities and the responded company with an intention to evade the loan placed the proposal before the Bank.
The Mauritius Commercial Bank submitted that Ms Heista Holdings Ltd availed Rs 92 crore loan from it and Sujana Industries stood as a guarantor for the loan.
The counsel appearing for Sujana Industries submitted before Justice A. Rajasheker Reddy to grant some more time as he will come back with a better proposal for rescheduling of payments.
The counsel appearing for the Bank objected the plea and insisted for the hearing. While adjourning the case to Monday, the judge ruled that if the company fails in settlement before Monday, the arguments will commence in the case.
