HYDERABAD: In a relief to Tollywood actor Junior NTR, the Telangana High Court has set aside an order of the Debt Recovery Tribunal (DRT) related to a 681-square-yard property in Jubilee Hills.
Junior NTR purchased the property in 2003 from Sunku Gita, unaware she had mortgaged it to secure loans from many banks. Though the actor had cleared one of the loans taken by Gita, other banks to which she owed money approached the DRT, which ordered the repossession of the property.
Following adverse notices from banks, Junior NTR approached the DRT, but the tribunal upheld its order. He then filed a writ petition in the Telangana High Court.
Despite the existence of an alternative remedy of appeal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the impugned DRT order was passed, the HC noted and called it a flagrant violation of natural justice principles. Consequently, the court set aside the DRT’s order.