Sujana Chowdhury answers to media about NBW against him
Union Minister of state for science and technology Y Sujana Chowdary has made the news for a wrong reason.
The union minister was under scanner related with the non payment of loan taken from Mauritious based commercial bank.
The minister, while addressing at the press conference on Friday has clarified that his legal cell has been dealing into the matter of the non-bailable warrant issued against him in connection with the case filed by Mauritius Bank.
His company, Sujana Universal Industries Ltd, had stood guarantee for Rs 100-crore loan to Hestia Holdings, a subsidiary of the Sujana Industries Ltd, which had defaulted.
Sujana admitted that he was under pressure, considering the position he was holding in the Union Ministry as Minister for Science and Technology. This did not however mean anything. He had
less than 1% share in Hestia, in which he was not even a director. So he had nothing to worry.
He hoped the court would go into the merits of the case, and then decide on his appearance.
Sujana said his appearance depended on the presssing nature of his work at the Centre.
The Minister clarified that there was a distinction between default, as was alleged by Mauritius Bank, and fraud and NPA (non-performing asset). Since it was not directly his business but
Hestia's, he was not in the picture. It was for the Nampalli court to see the merits of the case.
Sujana said he might have gone to the courts 20 to 30 times in his business career. This would not be the first time for him. He would do what the legal cell would decide.
In a wide-ranging press meet in Hyderabad, Sujana clarified many matters, saying the media knew more than him in the matter. At the same time, he said as far as the party was concerned, what the leadership decided would matter to him.
Union Minister of state for science and technology Y Sujana Chowdary has made the news for a wrong reason.
The union minister was under scanner related with the non payment of loan taken from Mauritious based commercial bank.
The minister, while addressing at the press conference on Friday has clarified that his legal cell has been dealing into the matter of the non-bailable warrant issued against him in connection with the case filed by Mauritius Bank.
His company, Sujana Universal Industries Ltd, had stood guarantee for Rs 100-crore loan to Hestia Holdings, a subsidiary of the Sujana Industries Ltd, which had defaulted.
Sujana admitted that he was under pressure, considering the position he was holding in the Union Ministry as Minister for Science and Technology. This did not however mean anything. He had
less than 1% share in Hestia, in which he was not even a director. So he had nothing to worry.
He hoped the court would go into the merits of the case, and then decide on his appearance.
Sujana said his appearance depended on the presssing nature of his work at the Centre.
The Minister clarified that there was a distinction between default, as was alleged by Mauritius Bank, and fraud and NPA (non-performing asset). Since it was not directly his business but
Hestia's, he was not in the picture. It was for the Nampalli court to see the merits of the case.
Sujana said he might have gone to the courts 20 to 30 times in his business career. This would not be the first time for him. He would do what the legal cell would decide.
In a wide-ranging press meet in Hyderabad, Sujana clarified many matters, saying the media knew more than him in the matter. At the same time, he said as far as the party was concerned, what the leadership decided would matter to him.
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