Epaper
Sujana Universal Industries on Tuesday informed the high court that the company was ready to repay the loan taken from Mauritius Commercial Bank in a phased manner.
Faced with a winding up plea filed by the bank, the company, owned by Union minister of state for science and technology Y Sujana Chowdary, handed over a proposed payment schedule to the counsel for the Mauritius bank.
This proposal by the respondent Sujana Universal Industries Limited was made before Justice Raja Sekhar Reddy of the Hyderabad High Court.
It was said that fifteen percent of the amount will be paid between January and March 2015 and rest of the amount will be paid by March 2017.
The Mauritius bank’s counsel, S Niranjan Reddy, told the court that he would have to revert to the bank on the matter. Justice A Rajasekhara Reddy, who was hearing the plea, gave him a day’s time to obtain the bank’s version and posted the matter to Wednesday for further hearing.
