Bandla Ganesh’s Supreme Court Plea Fails In Loan Recovery Case

Bandla Ganesh has received an unfavourable verdict from the Supreme Court in a property auction case involving Union Bank of India.

The producer had challenged the bank decision to auction properties that were pledged as security for a loan. However the apex court declined to interfere with the case.

Bandla Ganesh and his family had mortgaged their personal properties as collateral for loans taken by Sri Parameswara Poultry Farm Private Limited.

After the company entered the insolvency process, Union Bank auctioned the properties to recover its dues. Earlier the Debt Recovery Tribunal (DRT) had ruled in Ganesh’s favour but the Telangana H.C later overturned that decision and upheld the bank’s action.

The Supreme Court has now also supported the High Court’s ruling, bringing the legal dispute to a close.

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