Former TDP leader, former Union minister and present BJP MP, Y S Chowdary, popularly known as Sujana Chowdary, is addressed as Vijaya Mally of South.
He is also called as Andhra Mallya by the financial institutions, share market and other such institutions.
He floated several companies under one roof and borrowed several thousands of crores of rupees from the banks.
He changed the names of some companies after taking loans and the banks are now finding it difficult to get back their money.
The CBI, ED and IT have conducted raids on his premises, booked cases but could not move an inch to recover the money, as he switched over to the ruling BJP after 2019 general elections.
He is known as the right hand man to TDP chief N Chandrababu Naidu in the political circles. Though in BJP, Sujana Chowdary is known to be working for the advantages of Chandrababu Naidu.
According to an assessment, Sujana Chowdary owes close to Rs 6,500 crore to various banks. Enforcement Directorate (ED) notified him as fraud evading bank loans to the tune of Rs 5,700 crore to three banks and they found papers related to 128 companies owned by him.
The CBI had registered three FIRs against him for a fraud of Rs 364 crore.
He owns Sujana Metals, which borrowed Rs 2430 crore and changed its name as Splendid Metals.
He owns Sujana Towers, which borrowed Rs 2610 crore and changed its name as Neueon Towers.
He owns Sujana Universal, which borrowed Rs 1500 crore and no longer exists.
This is what this big man from Andhra Pradesh has done with the banks and still enjoys political power in the national capital.
The banks, the share market and the financial institutions call him “Vijaya Mallya of South” and “Andhra Mallya”, who is all powerful rubbing his shoulders with the mighty power centers in Delhi.
