NE BUSINESS BUREAU
CHENNAI/NEW DELHI, AUG 21
The public sector mortgage lender, Bank of Baroda (BOB) laden with Rs.34,832.16 crore of gross non performing loans as on June 30, 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 decision was made a day subsequent to Bank of Baroda’s promotion regarding the e-auction of the actor’s property
- Congress questions the public sector bank’s somersault
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 Sunny Deol stands withdrawn due to Technical Reasons” and listed the description of the property.
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BoB to auction Sunny Deol’s Juhu villa to recover Rs 56 cr on Aug 25
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.
Yesterday afternoon the nation got to know that Bank of Baroda had put up the Juhu residence of BJP MP Sunny Deol for e-auction since he has not paid up Rs 56 crore owed to the Bank.
This morning, in less than 24 hours, the nation has got to know that the Bank of Baroda has…
— Jairam Ramesh (@Jairam_Ramesh) August 21, 2023
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 Rs 51.43 crore and the earnest money deposit is fixed as about Rs 5.14 crore.
According to BOB, the property can be inspected between 11 a.m and 1 p.m. 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.
Congress Rajya Sabha MP Jairam Ramesh took to X (formerly Twitter) to voice the party’s concerns. He wrote, “Yesterday afternoon the nation got to know that Bank of Baroda had put up the Juhu residence of BJP MP Sunny Deol for e-auction since he has not paid up Rs 56 crore owed to the Bank.”
“This morning, in less than 24 hours, the nation has got to know that the Bank of Baroda has withdrawn the auction notice due to ‘technical reasons’. Wonder who triggered these ‘technical reasons’?” he asked.
