Hyderabad: A non-bailable warrant was issued against Y. S. Chowdhary, Union Minister of state for science and technology, on Thursday, by 12th Additional Metropolitan Magistrate (Nampally, Hyderabad), after he failed to appear before the court on three successive occasions in connection with a criminal complaint filed by Mauritius Commercial Bank Ltd.
The complaint was filed against Chowdhary accusing him and others of 'defaulting in repayment of loan of Rs 106 crore'. The bank stated that it had lent Rs 100 crore to Heistia Holdings Ltd. a subsidiary of Sujana Universal Industries Ltd, and had secured a decree from a London court.
The counsel of the bank confirmed that the bank had filed several litigations against Sujana Universal Industries Ltd. as the company stood as the guarantor for the loan availed for its subsidiary.
Chowdhary is the Non-Executive Director of Sujana Universal Industries Ltd and despite being summoned thrice, he failed to appear before the court.
The hearing on this matter will take place on April, 26.
What did bank say:
Sanjeev Kumar, Partner Luthra & Luthra Law offices, a Delhi based law firm representing the Mauritian Bank said that they have submitted before the court that the minister was taking excuses and neglecting the orders of the court on the regular basis. The court issued the non-bailable warrant against the minister as the accused was evading the process of the court.
What did Y. S. Chowdhary say:
A statement issued by Chowdhary stated, "I have been just informed that a non-bailable warrant has been issued against me by the court of the XII Additional Chief Metropolitan Magistrate (Nampally, Hyderabad). Owing to pressing [public duties in public interest, I was unable to appear in the previous dates,. I have the highest regard for the judiciary and never had any intention to evade or avoid appearing in the court. The orders of the court will be compiled with."