BOB Reverses Decision To E-Auction Sunny Deol's Property Over Unpaid Loan Amount
Bank of Baroda (BOB), a government-owned mortgage lender grappling with a substantial gross non-performing loan portfolio of Rs. 34,832.16 crore as of 30 June, has reversed its decision to auction actor Sunny Deol's property in Mumbai due to non-payment of a loan amounting to about Rs 56 crore, along with accrued interest.
This reversal of action followed the bank's announcement of an e-auction for the aforementioned property, which occurred just a day prior.
In a newspaper advertisement released on Monday, BOB stated, "The sale notice in respect of Ajay Sing Deol alias Sunny Deol stands withdrawn due to Technical Reasons," while outlining the property's details.
A preceding Sunday newspaper advertisement, widely circulated on social media, had revealed that the borrower, Sunny Deol, owed the bank approximately Rs 55.99 crore plus interest and associated costs starting from December 26, 2022, excluding recoveries up to the present.
It remains to be confirmed whether the bank inadvertently misspelled the actor's name as 'Ajay Sing Deol' instead of 'Ajay Singh Deol'.
According to the bank, the property earmarked for e-auction spans 599.44 square meters and encompasses a structure known as Sunny Villa, situated in Mumbai's Juhu neighborhood.
Sunny Deol is identified as the borrower/guarantor, with additional guarantors listed as Dharmendra Singh Deol and Sunny Sounds Pvt Ltd.
BOB is facilitating the auction based on the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022.
The property's reserve price is set at approximately Rs 51.43 crore, accompanied by an earnest money deposit of around Rs 5.14 crore.
Prospective buyers can inspect the property between 11 a.m. and 1 p.m. on 14 September, with the possession status currently deemed symbolic.
The bank further conveyed that the borrowers/guarantors possess the opportunity to reclaim the assets by settling the outstanding dues, costs, charges, and expenses before the actual auction takes place.
The auction notice was released by BOB's Zonal Stressed Asset Recovery Branch, located in Ballard Estate, Mumbai.
