The Hyderabad High Court has issued notice to Union Minister YS Chowdary and others in a contempt petition filed by the Mauritius Commercial Bank.
The bank had filed several litigations against Sujana Universal Industries Ltd, a company in which YS Chowdary, is a Non-Executive Director.
The notice comes as another set back to the Union Minister whose company is facing many legal battles against the Mauritius Commercial Bank.
In June 17, 2015, the City Civil Court had directed Sujana to disclose the details of all its assets, including details of all the bank accounts on an affidavit. At first the company chose not to mention any bank accounts and later filed another affidavit mentioning a few bank accounts outside the jurisdiction of the court in Hyderabad.
The petitioner contended that this was done as a deliberate attempt to defeat the legitimate claims of the bank which is pursuing an execution of a United Kingdom High Court Order against Sujana.
Moreover, in April 2014, the City Civil Court in Hyderabad had frozen certain bank accounts of Sujana in Hyderabad and they had even preferred an appeal against the same before the High Court. The bank has contended that all the Directors are collectively responsible for ensuring that there is due compliance of the orders passed by the court and have wilfully and consciously chosen not to comply with the orders of the City Civil Court, according to Sanjeev Kumar, Partner of Luthra and Luthra Law offices, a Delhi-based law firm representing the Mauritius Commercial Bank.
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