Rs 24 Crore Property Dispute : Jr NTR Fighting Against Banks

Tollywood actor Junior NTR is embroiled in a legal battle over a prime property in Jubilee Hills, currently valued at Rs 24 crore. He has approached the Telangana High Court alleging that the previous owner's relatives created fake documents and obtained loans from several banks against the same property.

The dispute revolves around a 681-square-yard plot on Road No. 75, Jubilee Hills, which Junior NTR purchased in 2003 for Rs 36 lakh from Sunku Geetha Lakshmi. Over time, the actor constructed a luxurious house on the plot, and its value soared to Rs 3.5 lakh per square yard.

Multiple banks claimed they had issued loans against the property based on fake documents created by Geetha Lakshmi's relatives. The Debt Recovery Tribunal (DRT) issued an order favouring the banks, allowing them to take possession of the property. Dissatisfied, Junior NTR filed a petition in the Telangana High Court, citing a technical error in the DRT order.

A vacation bench questioned why the actor approached the High Court instead of utilizing the appellate remedy through the Debt Recovery Appellate Tribunal (DRAT).

Junior NTR's lawyer argued that the DRT order contained a technical error. The bench directed the actor to furnish the docket order by June 3, scheduling a further hearing on June 6.

Junior NTR has alleged that Geetha Lakshmi concealed the fact that she had obtained loans from multiple banks against the same property when she sold it to him in 2003. He claims to have paid off a loan from a Chennai bank after acquiring the property. The actor has also filed criminal charges against the banks involved.