Bandla Ganesh suffers setback as High Court upholds property auction
Producer Bandla Ganesh has suffered a legal setback after the Telangana High Court ruled in favor of Union Bank of India in a dispute over the auction of his Jubilee Hills property.
The bank had auctioned the property for Rs 8.50 crore after loans taken in the name of Sri Parameshwara Poultry Farm Private Limited allegedly went into default.
Bandla Ganesh had challenged the auction before the Debt Recovery Tribunal (DRT), which ruled in his favor and granted him relief. However, Union Bank of India challenged the DRT’s order in the Telangana High Court.
After hearing arguments from both sides, the High Court upheld the bank’s stand, ruling that the auction of the property was valid and justified.
The verdict comes at a time when Bandla Ganesh recently announced the launch of a new production banner. While he confirmed his return to film production, he is yet to reveal details about his upcoming project.
