Set back to Sujana Chowdary

sujanaTDP MP, Union Minister Sujana Chowdary faces a setback in Supreme Court as the Court dismissed the petition filed by Sujana Universal Industries Ltd .

Sujana’s company sought the supreme court to quash off the verdict of High Court to liquidate his assets. Justices  J. Chelameswar and A.M. Sapre rejected the Special Leave Petition of Sujana’s company.

Earlier Mauritius Commercial Bank Ltd approached High Court seeking permission to liquidate Sujana Universal Industries Ltd , alleging that Sujana Industries had defaulted loan payments of Rs 106 crore. It said the company had stood as guarantor for the loan availed by Mauritius-based Hestia Holdings Ltd, a subsidiary of the company.