On Monday the Hyderabad High Court Justice A. Rajasheker Reddy reserved decision on the admissibility of a petition by the Mauritius Commercial Bank seeking liquidation of Sujana Universal Industries Ltd.
This case was moved to High Court alleging that the Sujana Industries for not paying of an Rs 106 crore loan availed by the Mauritius-based Hestia Holdings Ltd.
The court ordered to Sujana to amicable settlement with the Bank. The Bank rejected a 3 year repayment schedule.
Sujana said that his client was a guarantor and they are prepared to repay the loan.
The Bank made argument with him that his client offered a loan to Hestia Holdings.
Judge gave orders after hearing the arguments of both the counsels on the admissibility of the plea.