Sunny Deol’s Juhu bungalow auction: Gadar 2 star approached the bank to settle dues, says BoB

Bank of Baroda, in a statement on Monday, said that the borrower, meaning Sunny Deol, has approached the lender to settle the dues as per the notice on August 20 that put up the actor’s Juhu bungalow for auction over non-repayment of Rs 56 crore. The lender also said that the total dues did not specify the exact quantum of the dues to be recovered. 

The bank’s statement comes after it issued a corrigendum on Monday morning withdrawing its e-auction notice. Bank of Baroda had cited “technical reasons” behind the withdrawal of the auction notice, following which Congress MP Jairam Ramesh questioned the reasons. 

In a statement, the bank said that the sale notice was based on a symbolic possession of the property, while an application for the physical possession was made on August 1. 

“The technical reasons mentioned in the withdrawal of the sale notice published on 21st August 2023 are: First, the total dues did not specify the exact quantum of dues to be recovered. Secondly, the sale notice was based on a symbolic possession of the property as per Rule 8(6) of The Security Interest (Enforcement) Rules 2002. An application has been made for physical possession by the Bank with the Chief Metropolitan Magistrate on 01st August 2023, which is pending for permission. Since the unit is running as conveyed to us by the borrower, sale action will be initiated as per the provisions of the SARFAESI Act, once the physical possession is taken,” it said.

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“In the meantime, the borrower has approached the Bank for settling the dues as per the sale notice published on 20th August’ 2023, where the borrower/guarantors were notified that they are entitled to redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted. Accordingly, the sale notice is withdrawn as per the normal industry practice followed in other cases as well,” said a spokesperson for Bank of Baroda. 

On August 20, the lender had put up an e-auction notice stating that Sunny Villa in Juhu will be put under the hammer on September 25 from 1pm to 3pm. Bank of Baroda had put up a reserve price at Rs 51.43 crore.

However, on Monday morning the lender said that the e-auction sale notice for Sunny Villa published on August 20 against Ajay Singh Deol aka Sunny Deol stands withdrawn due to “technical reasons”.  

Also read: Sunny Deol's Juhu bungalow not on sale; Bank of Baroda withdraws e-auction notice

Also read: Sunny Deol’s Juhu bungalow auction notice withdrawn: ‘Who triggered these tech reasons,’ asks Jairam Ramesh

Also read: Sunny Deol's Juhu bungalow put on sale by Bank of Baroda over Rs 56 cr dues