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Bandla Ganesh To Challenge Property Auction In Supreme Court

By Rambabu Updated at: 2026-07-06 10:04:02

Producer Bandla Ganesh will move the Supreme Court after Telangana High Court upheld Union Bank’s auction of his Jubilee Hills properties. He alleged the sale was unfair and well below market value. Ganesh said he first challenged it in 2022 and won at DRT, but lost in High Court.

The dispute involves loans of Sri Parameshwara Poultry Farm Private Limited, where Ganesh’s family were guarantors. Union Bank seized the assets in 2019 under SARFAESI Act. A 2022 auction fetched Rs 8.51 crore. The bank said proceeds were to adjust against an Rs 82 crore OTS.

A bench of Justice Moushumi Bhattacharya and Justice Gadi Praveen Kumar set aside DRT’s order that had cancelled the auction. Union Bank argued the mortgaged properties belonged to guarantors, not the company under NCLT. Hence, insolvency proceedings did not bar the sale.

The High Court ruled no legal restriction applied to guarantor assets. It upheld the bank’s auction and dismissed claims of procedural violation. Ganesh said he still trusts the judiciary and will seek justice in the Supreme Court. The case highlights ongoing tension between borrowers and lenders in India.


- Veda

Bandla Ganesh