By J.R.PRASAD
Hyderabad, Feb. 20: The auction of Samrat Spinners Limited, owned by B. Ramalinga Raju, the former chairman of Satyam Computers was postponed for an indefinite period after only one person turned up to take part in the scheduled bidding on Friday.
The firm is located at Shabhashpally in Narsapur mandal, near Toopran of Medak district.
According to the local tahasildar, Mr Mohan, the revenue department called for the auction of the property worth over Rs 20 crore to recover huge dues which were to be paid towards the salaries of the workers.
Raju set up this spinning and weaving mill and ran it for several years before he declared it as a sick industry citing financial losses.
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