Sujana Industries Releases Statement in Favour of Sujana Chowdary

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In a statement released by Sujana Universal Industries Ltd, it has been clarified that the Union Minister of State for Science and Technology Sujana Chowdary has no relation with the issue relating to the wind-up petition filed by Mauritius Commercial Bank against Hestia Ltd. The statement also clarified that Sujana Chowdary is not connected to or associated with the borrowings made by it.

The statement further clarifies that that Mr Chowdary was neither a director nor a shareholder in the borrower company, and he has not received any notice either in his personal capacity or in any

capacity.

The issue is all about the alleged default of repayment of loan of Rs 106 Crore by Hestia Holdings Limited located in Mauritius. Sujana Universal Industries Limited had provided corporate guarantee to Hestia Holdings Limited.

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