Bank of Baroda Withdraws E-auctioning of Sunny Deol’s Property over Loan Dues
IANS 21 August 2023
The Central government-owned mortgage lender, Bank of Baroda (BOB) laden with Rs.34,832.16 crore of gross non-performing loans, as on 30 June, has decided to withdraw its decision to auction actor Sunny Deol’s Mumbai property for non-payment of its loan about Rs 56 crore and interest on that.
 
The decision comes a day after Bank of Baroda advertised about e-auctioning of the actor’s property.
 
The bank in a newspaper advertisement on Monday said that "the sale notice I respect of Mr. Ajay Sing Deol alias Mr. Sunny Deol stands withdrawn due to Technical Reasons” and listed the description of the property.
 
On Sunday in the newspaper advertisement, that has been widely circulated in the social media, BOB said the borrower, Sunny Deol, owed the bank about Rs 55.99 crore plus interest and cost from December 26, 2022 onwards less recovery upto date.
 
Whether the bank misspelt the actor’s name as 'Ajay Sing Deol' instead of 'Ajay Singh Deol' is yet to be ascertained.
 
According to the bank, the property that is put on e-auction measures 599.44 sq. metres and a structure known as Sunny Villa located in Mumbai’s Juhu locality.
 
Sunny Deol is described as the borrower/guarantor and the other guarantors are Dharmendra Singh Deol and Sunny Sounds Pvt Ltd.
 
The bank is auctioning the property under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022.
 
The reserve price is about Rs51.43 crore and the earnest money deposit is fixed as about Rs5.14 crore.
 
According to BOB, the property can be inspected between 11am and 1pm. on September 14 and the status of the possession is symbolic.
 
The bank also said the borrowers/guarantors can redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted.
 
The auction notice was issued by BOB’s Zonal Stressed Asset Recovery Branch, Ballard Estate, Mumbai.
 
Sunny Deol was not available on phone when IANS tried to get his reaction to the BOB e-auction advertisement on Sunday.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
Comments
Kamal Garg
10 months ago
Funny things happen in Indian banking space, particularly in case of PSU banks. There are many bosses and there are many elections for MP/MLA/Corporators/Panchayat, every now and then.
r_ashok41
10 months ago
There should be discrimination between aam aadmi and so called high profile people who can do any corruption and get away with govt support.If we are serious to remove corruption not only on lips we should enact a law enforcing whoever has taken a loan and not repaying should be made to pay or confisticate his property and belongings and bank balance even if he is a MP /MLA or any govt influencer person in the govt.There should not be any discrimination if people have to believe on what the present govt speaks.unless one walks the talk it will remain only in lips.
Aam aadmi people to get a load has to run pillar to post whereas all these influencers get the money and then use it for their personal use and do not repay for which we tax payer are subjected to taxes.These are the negatives for the present govt which talks on such issues but does not take it forward.The above is a classic case.
brajesh.nath
10 months ago
Rules, guidelines ......these are for the common people.
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