After Sunny Deol failed to repay a debt for Rs 56 crore, the Bank of Baroda (BoB) declared in a notice on Sunday that it will hold an online auction for the actor’s mansion in Juhu, Mumbai, the following month.
According to a notice published in a newspaper, the bank will sell Sunny Villa, which is located on Gandhi Gram Road, in order to recoup the Rs 55.99 crore that the actor owes the lender, plus interest and costs dating back to December 26 of last year less the amount that has been recovered.
The notice stated that the auction would be held on September 25 and bids could be filed by September 22. It was issued by the lender’s Zonal Stressed Asset Recovery Branch. The cottage would be auctioned “as is, where is” in order to recoup the debt, it stated.
According to the public notification, Sunny Deol’s bungalow had been mortgaged to the bank, and the authorized bank officer had taken possession of it.
All of the 599.44 square meter pieces and parcels of land under Sunny Villa are included in the mortgaged properties. Ajay Singh Deol aka Sunny Deol and Vijay Singh Dharmendra Deol served as the loan’s guarantors.
According to the advertisement, the property’s reserve price is Rs. 51.43 crore, and the Earnest Money Deposit (EMD) that must be made when placing a bid is Rs. 5.14 crore. On September 14, the property is open for inspection, and the winning bidder will receive initial symbolic ownership.
The notice was issued as per the statutory 30-day notice needed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
This occurs at a time when Gadar 2, the follow-up to the 2001 hit Gadar: Ek Prem Katha, starring Sunny Deol, is reportedly performing well at the box office.
