Sunny Deol offers to settle dues for bungalow: Bank of Baroda

A day after putting out a public notice to auction a villa owned by actor and sitting BJP Member of Parliament Sunny Deol to recover Rs 56 crore dues, the Bank of Baroda on Monday said the process was withdrawn due to technical reasons. In a public notice on Sunday, the state-owned bank said it would e-auction ‘Sunny Villa’ in the Juhu area of the city on September 25. But in a similar notice on Monday, the Bank of Baroda said the e-auction notice published on August 20 “stands withdrawn due to technical reasons.”.
The state-owned Bank of Baroda said on Monday that actor Sunny Deol has offered to settle the dues related to his bungalow in Mumbai. The lender’s statement comes hours after it withdrawn the public notice to auction the villa owned by actor and sitting BJP Member of Parliament to recover Rs 56 crore dues.
“In the meantime, the borrower has approached the bank for settling the dues as per the sale notice published on August 20, wherein the borrower and guarantors were notified that they are entitled to redeem the securities by paying the outstanding dues, costs, charges, and expenses at any time before the sale is conducted,” the bank said.
As per Sunday’s notice, the bank, which has attached the property, had fixed the reserve price for the auction at Rs 51.43 crore and an earnest money deposit of Rs 5.14 crore. Apart from Sunny Villa, the 599.44-square-metre property also houses Sunny Sounds, which is owned by the Deols and is the corporate guarantor to the loan, while Sunny’s actor-politician father Dharmendra is the personal guarantor of the debt, according to the auction notice.
The notice further said the Deols had the option of clearing the bank’s dues to prevent the auction under the provisions of the Sarfaesi Act 2002.