HYDERABAD: A city court has issued a non-bailable warrant (NBW) against Union minister Y Sujana Chowdary and others in a bank case where the accused have allegedly defaulted on repayment of loan in excess of `106 crore taken from a Mauritius-based bank. The Court had earlier issued summons to the board of directors of Sujana Universal Industries Limited, including Chowdary. The minister had failed to appear before the court on three successive occasions.
Based on a complaint filed by the Mauritius Commercial Bank, the XII Additional Chief Metropolitan Magistrate, Nampally, issued the non-bailable warrant.
The bank, in its complaint, alleged that the board of directors of Sujana Universal Industries Limited had committed various offences under the Indian Penal Code which included dishonest or concealment of property to prevent distribution among the creditors. The court had directed the accused to disclose all their assets, including the bank accounts details, through an affidavit. This was done as a deliberate attempt to defeat the legitimate claims of the bank that is pursuing an execution of a United Kingdom High Court order against Sujana Industries, it further alleged.
The bank submitted that the company stood as a guarantor for the loan which was availed for Mauritius-based Hestia Holdings Ltd. a subsidiary of Sujana industries, and the company has to repay Rs 106 crore to it.
“The Union minister chose not to appear before the court despite having been issued summons and a conditional order being passed on April 1, asking him to appear before the court or face warrant. We (the bank) submitted before the court on Wednesday that the minister was taking excuses and flouting the orders of the court on a regular basis. We also argued that this was a fit case for issuance of Non-bailable warrants (NBWs) as the accused were evading the process of the court and the court was pleased to issue NB against the minister and other accused,”
Meanwhile, minister Chowdary, in a statement, said he was unable to appear before the court on the previous dates owing to “pressing public duties in public interest”. “I have highest regard for the judiciary and never had any intention to avoid appearing in the court. The orders of the court will be complied with”, he added.