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Sujana Industries bankers embroiled in contempt case
Justice M Satyanarayana Murthy of the High court at Hyderabad on Friday admitted a contempt petition against Sujana\'s bankers for alleged violation of court orders.
Justice M Satyanarayana Murthy of the High court at Hyderabad on Friday admitted a contempt petition against Sujana's bankers for alleged violation of court orders.
The court on September 14 had directed the bank to disclose the bank account details of Sujana Universal Industries Limited within a week from the date of the order by way of an affidavit before the Executing Court (City Civil Court - Hyderabad).
The petition by Mauritius Commercial Bank is filed against Bank of Baroda, Bank of India, IDBI, Central Bank of India, Oriental Bank of Commerce, Indian Overseas Bank and UCO Bank.
This pertains to an execution petition filed by the Mauritius Commercial Bank before the City Civil Court in Hyderabad, seeking execution of a decree passed by the court in UK.
The UK High Court decree gave the Mauritian Bank a right to seek execution as against Sujana Universal Industries Limited, a Company associated with Union Minister Y S Chowdary (known as Sujana Chowdary) for having defaulted in repayment of loan in excess of Rs 100 crores.
