Actor and producer Bandla Ganesh has suffered a setback in the Supreme Court in a case related to the auction of his family’s property.
On Tuesday, the Supreme Court refused to interfere with the action taken by Union Bank of India, which had auctioned the property to recover unpaid loan dues. With this, Bandla Ganesh did not get the relief he was seeking.
According to court records, Bandla Ganesh and his family had pledged their personal properties to the bank as security for a loan taken by a Hyderabad-based company, Sri Parameswara Poultry Farm Private Limited. When the company failed to repay the loan, the bank auctioned the property to recover its dues.
Bandla Ganesh challenged the auction before the Debt Recovery Tribunal (DRT). The tribunal ruled in his favor, cancelled the auction, and directed the bank to return the property. It also ordered that the auction purchaser be refunded the amount with interest.
However, Union Bank challenged that order in the Telangana High Court, which ruled in the bank’s favor and held that the auction was valid.
Bandla Ganesh then approached the Supreme Court, asking it to set aside the High Court’s decision.
The Supreme Court declined to interfere with the High Court’s ruling. This means the bank’s auction of the property will continue to remain valid.
In simple terms, the Supreme Court rejected Bandla Ganesh’s plea, allowing the bank to proceed with the auction to recover its dues.
