The notice's total dues, according to the bank, did not specify the particular amount of dues that needed to be repaid.
The state-owned Bank of Baroda said today that the auction notice for actor and BJP MP Sunny Deol's mansion in Mumbai's Juhu was cancelled due to technical issues "as per the normal industry practise followed in other cases as well", adding that the actor has contacted the bank to clear debts. The exact amount of dues to be recovered was not included in the notice's total dues, according to the bank. The bank has requested physical possession of the property, according to the notice, which was based on a symbolic possession of the property.
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According to Rule 8(6) of The Security Interest (Enforcement) Rules 2002, the sale notice was based on a symbolic possession of the property. In a statement published on X, formerly Twitter, the bank stated that it had filed an application with the Chief Metropolitan Magistrate on August 1, 2023, asking for authorization to take physical possession. According to Sunny Deol's statement to the bank that the property is being used, the sale would be started in accordance with the SARFAESI Act's provisions, which allow banks and financial institutions to seize the assets and property of credit defaulters without the need for a judicial order.
The notice stated that the borrower and guarantors were informed that they were entitled to redeem the securities by paying the outstanding dues, costs, charges, and expenses at any time before the sale was conducted. "In the interim, the borrower has approached the Bank for settling the dues as per the sale notice published on August 20, 2023," it said.
"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 Sunny Deol stands withdrawn due to technical reasons," the Bank of Baroda stated in a statement this morning. The bank had announced on Sunday that the Sunny Villa property in Juhu will go up for auction at a starting bid of 51.43 crore. The minimum bid was 5.14 crore rupees. Bank of Baroda put Mr Deol's property up for auction on Sunday in an effort to raise 56 crore through an online auction that will take place on August 25. Since December 2022, the Gurdaspur MP has been in arrears on a debt from the Bank of Baroda totaling 55.99 crore.
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