The state-owned Bank of Baroda has withdrawn the auction notice for actor and BJP MP Sunny Deol’s bungalow in Mumbai’s Juhu, according to a statement released by the bank today.
The property of Deol had been slated for auction on August 25th by the Bank of Baroda, with the aim of recovering a sum of Rs 56 crore. This action was initiated due to Deol’s default on a Rs 55.99 crore loan from the Bank of Baroda since December 2022.
The Bank of Baroda’s statement today clarified, “The e-auction notice pertaining to the sale of Ajay Singh Deol, also known as Sunny Deol’s property, has been withdrawn due to technical reasons.”
The bank had initially announced that the auction for the Juhu property, recognised as Sunny Villa, would commence at a base price of Rs 51.43 crore, with the minimum bid amount established at Rs 5.14 crore. Furthermore, the property spanning 599.44 square meters, which encompasses both Sunny Villa and Sunny Sounds, was intended to be put up for auction. Sunny Sounds is a company owned by the Deol family and serves as the corporate guarantor for the loan. Dharmendra, Sunny Deol’s father who is also an actor-politician, acts as the personal guarantor.
The announcement made on Sunday clarified that the Deol family still had the opportunity to settle their outstanding debt with the bank, which would prevent the auction from proceeding. This provision falls under the SARFAESI Act of 2002.