Mauritius Commercial Bank on Monday rejected the loan repayment schedule offer made by Sujana Universal Industries Ltd and conveyed the same to the Hyderabad High Court that was hearing a plea filed by the bank seeking winding up of the company.
The bank had given a loan of Rs 92 crore to Mauritiusbased Heistia Holdings Ltd and Sujana Universal Industries had stood guarantor for the same.
The company, which is facing a winding-up petition filed by the bank following a loan default of around Rs 100 crore, had offered to repay the money in installments starting from January, 2015 to March, 2017 after both the parties had agreed for a settlement last week.
However, the bank counsel informed Justice A Rajasekhara Reddy, who is heading the company court, that the proposal was not agreeable to their client. The judge posted the hearing on the winding-up petition to December, 4.
