Bank of Baroda (BOB) on Monday announced that the auction notice for actor and BJP MP Sunny Deol's property in Mumbai's Juhu district had been withdrawn and canceled. Bank of Baroda put Sunny Deol's property up for auction on Sunday in an effort to raise Rs. 56 crore through an online auction that was supposed to take place on August 25, 2023. Since December 2022, the Gurdaspur MP has been in arrears on a debt from the Bank of Baroda totaling a sum of Rs. 55.99 crore.
"Corrigendum to E-Auction Sale notice in respect of Mr Ajay Singh Deol Alias Mr Sunny Deol stands withdrawn due to technical reasons for the mentioned property," a public notice released by the Bank of Baroda on Sunday.
The bank had said on Sunday that the Sunny Villa property in Juhu will go up for an e-auction at a starting bid of Rs. 51.43 crores. The minimum bid amount was set at Rs. 5.14 crores. In addition, an auction was planned for the 599.44 square metre property that is home to Sunny Villa and Sunny Sounds. Under the provisions of the SARFAESI Act of 2002, the Deols can settle their outstanding debt with the bank to prevent the auction from being held as mentioned in the notice issued on Sunday. Reacting this, Congress also inquired into the source of the "technical reasons" for the withdrawal in response to the bank's notice.
"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 ₹ 56 crore owed to the Bank. This morning, in less than 24 hours, the nation got to know that the Bank of Baroda has withdrawn the auction notice due to 'technical reasons'. Wonder who triggered these 'technical reasons'?" Congress leader Jairam Ramesh wrote on X, formerly known as Twitter.
Congress demanded today to know who started the "technical reasons" for the withdrawal in response to the bank's warning.
What might be the controversy? To know more continue reading-
1. After the actor failed to make the loan payment that was due in December 2022, the bank placed Sunny Deol's property up for auction on Sunday in an effort to recoup 55.99 crore.
Also Read: 17 Stranded Boys Stuck in Libya came home with efforts of MP Vikramjit Singh Sahney
2. Bids were requested for the 599.44 square metre property, and an e-auction was scheduled for 25 August with a starting price of Rs. 51.43 crore and Rs. 5.14 crore earnest money deposit. The notice further stated that the SARFAESI laws require a 30-day notice, and that the guarantors and borrowers can redeem the securities by paying the outstanding balance before the sale is made.
3. The notification stated that Sunny Deol, whose most recent film, "Gaddar 2," has already made over $400 million worldwide, was the loan's borrower, while Vijay Singh Deol, also known as Bobby Deol, and his father, Dharmendra Deol, served as the loan's guarantors. Sunny Sounds Pvt Ltd served as the mortgage's corporate guarantor in the meantime.
4. The Sunny Super Sound recording studio, Sunny Deol's office, a preview theatre, and two post-production suites are all located in the Juhu bungalow Sunny Villa, which has been in the Deol family for 50 years. Sources claim that Deol used this mortgaged property to obtain funds for his 2016 release, "Ghayal Once Again."
5. Meanwhile, a controversy over the BoB cancelling the auction has arisen, with the Congress raising concerns. Jairam Ramesh, the general secretary of the Congress, said on the social media platform X, "Yesterday afternoon the nation got to know that Bank of Baroda had put up BJP MP Sunny Deol's Juhu property for e-auction since he has not paid up 56 crore owed to the Bank. The country learned this morning that the Bank of Baroda has cancelled the auction notice due to 'technical reasons'. Wonder who triggered these 'technical reasons'?”