Bank withdraws auction notice from Sunny Deol’s Mumbai bungalow after defaulting Rs. 56 crore loan

Sunny Deol, who is basking in the success of Gadar 2, has been in the headlines for the past few weeks for the box office collections of the movie. However, recently, it was reported that the Bank of Baroda had put up his Mumbai bungalow on the block for auction after he defaulted Rs. 55.99 crore loan since December 2022. Now, reports suggest that the auction notice has been withdrawn by the bank.

NDTV reports that the state-owned Bank of Baroda released a statement which stated, “Corrigendum to e-auction notice with regards to sale auction notice in respect of Mr Ajay Singh Deol alias Mr Sunny Deol stands withdrawn due to technical reasons.”

On Sunday, the bank said that the auction of the Sunny Villa in Juhu of Mumbai would commence at Rs. 51.43 crore with the minimum bid amount set at Rs. 5.14 crore.

The notice sent on Sunday stated that Sunny Deol, actor and BJP MP from Gurdaspur, can still settle the debt with the Bank of Baroda and prevent the auction under the SARFAESI Act of 2002.

An insider earlier told Bollywood Hungama, “The notice states that the buyer, after paying the amount, will get ‘symbolic possession’. After the amount is deposited, Bank Of Baroda will approach the District Magistrate. Once the DM approves, the buyer will get physical possession of the property. However, this process can be slow and can take months or even years. Until then, Sunny Deol can operate his business from Sunny Villa.”

Sunny Villa houses Sunny Super Sound, the office of the actor, a preview theatre and two other post-production suites. The preview theatre is extremely famous and most of the big releases have their cast and crew and industry screenings at Sunny Super Sound. Several press shows for journalists are also held here. Established in the late 80s, the theatre and the post-production studios have been equipped with modern technology. ALSO READ: Sunny Deol’s Sunny Villa in Juhu to be auctioned in September 2023 for non-payment of dues amounting to Rs. 55.99 crores

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