Sujana in soup, Mauritius court books Chandrababu's 'binami'

The Hyderabad city civil court issued an  injunction order against TDP party MP Sujana Chowdary's Hyderabad based Sujana Universal Industries Ltd, stopping it from withdrawing money from various banks.  Sujana is known to be extremely close to TDP chief Chandrababu Naidu.  

The court following an urgent petition filed by a Mauritius bank passed order restraining the company from withdrawing money from IDBI, IOB, Oriental Bank of Commerce, Bank of Baroda, Bank of India, Central Bank of India till April 28.

A UK court and a Hyderabad civil court in the past, found fault with Sujana's company for its failure to repay loan amounting to Rs 105 crore that it had taken from the Mauritus bank.

The court issued notice to Sujana company and postponed the case to April 28 for further hearing.

As per reports,  Sujana's company had availed loan amounting to Rs 60 crores (one crore dollar) from Mauritius commercial bank on November 9, 2010. The company had given guarantee for the amount, as well. 

After paying the interest for some months sincerely, he approached the bank for more debit.  The court in 2011 had agreed to increase the loan amount to 120 crores and by June 2012, Sujana had withdrawn the total amount. 

Reportedly from June, 2012 he stopped repaying the amount. The court sent notices to Sujana, and gave him some months' time to repay the loan, but the TDP leader failed to repay the amount. 

What is in store for Sujana now?  

As per the court orders, he has to respond before April 28 and has to tell the court the manner in which he will pay the amount. If the Mauritius court is satisfied with his response, he will be pardoned. Else they may seek Hyderabad court for his arrest, experts lawyers opined. 

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