HC admits Mauritius bank's petition on winding up of Sujana companies

Hyderabad, April 22, 2015: In a shocker to Union Minister Sujana Choudary who owns Sujana Group of companies, the High Court of Judicature at Hyderabad on Wednesday admitted a petition of Mauritius Commercial Bank which sought winding up of Sunjana Universal companies for recovery of its loan of R.106 Cr. The Bank representatives filed the petition in November last saying Sujana Universal defaulted on its guarantee which it stood when its subsidiary company Hasty of Holding took a loan of Rs.92 Cr. The bank said that the loan has now accumulated to Rs.106 Cr with interest and sought the winding up of Choudary-owned companies for recovery of its loan. The High Court, which kept the petition pending since November, admitted it today for hearing and directed that the publication of the petition be kept in abeyance for six months so as to give time to Sujana to repay the loan.