Shillong, August 21: The Central government-owned mortgage lender, Bank of Baroda (BOB), which holds Rs.34,832.16 crore of gross non-performing loans as of June 30, has opted to cancel the auction of actor Sunny Deol’s Mumbai property.
As per IANS, this decision was made due to non-payment of his loan amounting to around Rs. 56 crore along with accrued interest.
BOB’s move to withdraw the auction came just one day after the bank had advertised the e-auctioning of Sunny Deol’s property. In a newspaper announcement on Monday, the bank stated that the sale notice for Mr. Ajay Sing Deol, also known as Mr. Sunny Deol, has been retracted due to technical reasons. The property’s description was listed in the advertisement.
Previously, in a widely circulated newspaper ad on Sunday, BOB had mentioned that the borrower, Sunny Deol, had an outstanding amount of approximately Rs. 55.99 crore, plus interest and costs from December 26, 2022, onwards, deducting recoveries up to that date.
There is speculation about the bank misspelling the actor’s name as ‘Ajay Sing Deol’ instead of ‘Ajay Singh Deol’.
The property being put up for e-auction covers an area of 599.44 sq. meters and includes a structure named Sunny Villa located in Mumbai’s Juhu locality. Sunny Deol is identified as the borrower/guarantor, while Dharmendra Singh Deol and Sunny Sounds Pvt Ltd are listed as the other guarantors.
This auction of the property is taking place under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022. The reserve price stands at around Rs. 51.43 crore, and an earnest money deposit of approximately Rs. 5.14 crore is required.
BOB has specified that interested parties can inspect the property between 11 a.m. and 1 p.m. on September 14. It is important to note that the possession status is symbolic.
The bank has also informed that the borrowers/guarantors have the opportunity to redeem the securities by settling the outstanding dues, costs, charges, and expenses prior to the sale.
The auction notice has been issued by BOB’s Zonal Stressed Asset Recovery Branch located in Ballard Estate, Mumbai.
Despite attempts by IANS to contact Sunny Deol for his response to the BOB e-auction advertisement on Sunday, he was not reachable via phone.
