Hyderabad : The High Court of Judicature at Hyderabad on Tuesday quashed a non-bailable warrant issued by a city court against central minister Y.S. Chowdary in a loan default case.
The high court, however, asked the minister to personally appear before the court concerned on May 5 in the case, filed by a Mauritius-based bank for alleged default in loan repayment.
The minister of state for science and technology, in his petition, urged the high court to quash the criminal case registered against him and also the NBW.
Chowdary, a Telugu Desam Party leader, contended that since he is only a non-executive director of Sujana Universal Industries Limited, he can’t be proceeded against.
The high court, in its interim order, quashed the warrant and adjourned hearing in the case to June 16.
On April 7, The XIIth additional chief metropolitan magistrate issued the warrant as the minister failed for the third time to personally appear in response to the court summons.
The counsel for Mauritius Commercial Bank had told the lower court that the minister was evading the process of court and sought NBW against him.
Chowdary and others were accused of defaulting in repayment of loan in excess of Rs.106 crore.
The loan was taken for Mauritius-based Hestia Holdings Ltd., a subsidiary of Sujana Universal Industries Ltd.