Bank of Baroda cancelled auction Sunny Deol's Juhu property to recover around Rs 56 crore

Sunny Deol’s villa, located in upscale Juhu in west Mumbai, was earlier being auctioned by the Bank of Baroda to recover a loan given to the actor.

Sunny Deol’s villa, located in upscale Juhu in west Mumbai, was earlier being auctioned by the Bank of Baroda to recover a loan given to the actor.

The amount of the loan was said to be around Rs 56 crore. The bank was also trying to recover the interest levied on the loan.

However, Bank of Baroda has now withdrawn the e-auction notice for Sunny Deol's Juhu bungalow, citing 'technical reasons.'

Another notice was published on Monday, August 21, which says that the sale notice has been withdrawn due to technical issues.

Public sector lender Bank of Baroda had earlier issued actor Sunny Deol a notice for auctioning his villa in Juhu, Mumbai, citing non-payment of dues amounting to close to Rs 56 crore.

In a notice published on August 19, 2023 in a national newspaper, the lender said the villa would be e-auctioned on September 25 because of non-payment.

According to the notice, Ajay Singh Deol, alias Sunny Deol, is the borrower as well as guarantor of the loan and has allegedly not been able to pay the amount to the bank on time.

As per the rules, a loan becomes a non-performing asset (NPA) if the repayment of interest is abset as well as the principal for 90 days. Banks are required to set aside money to cover the likely losses from such loans and they usually auction such properties to recover the amount.

This comes in the backdrop Deol's recent mega reseals Gadar 2, starring him as well as Ameesha Patel, which has crossed Rs 300 crore at the box office on August 19, domestically.