ENTERTAINMENT

Jr. NTR Files Property Dispute Petition in Telangana High Court

In a writ suit, Jr. NTR has challenged the Debt Recovery Tribunal’s ruling on land ownership in the Telangana High Court. This Jubilee Hills Housing Society property is more than 600 square yards in size. K Rajeshwar Rao, the holder of the general power of attorney, Jr. NTR, has filed a writ suit seeking an order to set aside the DRT ruling that was issued on April 30. The RRR actor built a building at the location in 2007 after purchasing the ground from Sunku Geetha. The legislation reportedly states that all required approvals were acquired. The house’s construction started in the same year. This location has now become the source of a dispute.

The Debt Recovery Tribunal (DRT) has received applications from the State Bank of India, Bank of Baroda, IndusInd Bank, and Oriental Bank of Commerce. In accordance with the SARFAESI Act, several banks have sought the tribunal. The banks assert that, in addition to taking out a loan from them in 1996, Sunku Geetha transferred land title to Jr. NTR. The forty-year-old actor got letters from the banks as a result of his failure to return the loan. Securitization and Reconstruction of Financial Assets and Enforcement of the Security Interest Act, for those who are unaware. Banks and other financial institutions are permitted to auction off residential or commercial real estate under the SARFAESI Act. When a borrower doesn’t pay back the loan balance, the banks use this action to reclaim the money.

Jr. NTR reported these banks’ attempt to seize the property to the police after getting the notifications. In the same case, the police filed a charge sheet in 2019. However, after receiving notification from DRT, the forty-year-old actor made the decision to file a case with the Telangana High Court. On Thursday, May 16, the plea was considered by the Justice Sujoy Pal and Justice J. Srinivasa Rao vacation bench. Jr. NTR’s attorney has requested more time since the DRT order document was not accessible. The hearing has now been postponed until June 6 by the court. It mandated that all case-specific records be turned up by June 3.

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