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Indian minister faces arrest in loan default case

Xinhua, April 8, 2016 Adjust font size:

A court in the southern Indian city of Hyderabad has issued a non-bailable warrant against an India minister over an alleged loan default to a Mauritius-based bank.

The warrant has been issued against Y.S. Chowdary, India's junior Science and Technology Minister, after he failed to personally appear before the court in the case for the third time Thursday.

The minister is a leader of the Telugu Desam Party in the southern state of Andhra Pradesh, which is a coalition partner in the Bharatiya Janata Party-led National Democratic Alliance government.

Chowdary is also an industrialist and as a director of a company he failed to repay a huge loan taken for the company's Mauritius-based Hestia Holdings subsidiary from a bank in that country.

The lawyer representing the bank has told the court that the minister has been deliberately evading appearance on silly excuses, following which the warrant was issued.

The minister has said that he has full respect for the judiciary and denied that he deliberately avoided appearing in the court. Endit