Bank association alleges borrower owes more than $8 million

By Philip Gonzales | Oct 19, 2016

HOUSTON — A bank association is suing a Conroe borrower and guarantors, alleging breach of contract in failure to pay more than $8 million.

HOUSTON — A bank association is suing a Conroe borrower and guarantors, alleging breach of contract in failure to pay more than $8 million. 

Cadence Bank NA filed a complaint Sept. 22 in the Houston Division of the Southern District of Texas against Jyoti Americas LLC, Jyoti Structures Ltd. and Jyoti International Inc., alleging failure to comply with the loan agreement and the promissory note that was signed Sept. 19, 2014. 

According to the complaint, as of Sept. 22, the defendants' delinquent amount of $8,431,106.90 remains uncollected. Such sum does not include all penalties, attorney fees, and/or other possible charges, the suit says. 

The plaintiff alleges the defendants failed to pay the principal amount, interest accrued and all other indebtedness owed under the promissory note.

Cadence Bank seeks trial by jury, all damages, attorney fees, costs of court, pre- and post-judgment interest and all other relief available. It is represented by attorney Kent Altsuler of Nathan Sommers Jacobs in Houston.

Houston Division of the Southern District of Texas Case number 4:16-cv-02849

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Houston Division of the Southern District of Texas Jyoti Americas

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