The auction notice for actor and BJP MP Sunny Deol's bungalow in Mumbai's Juhu locality was withdrawn due to technical reasons, the state-owned Bank Of Baroda said on Monday. The bank has said in a statement that the notice was withdrawn "as per the normal industry practice followed in other cases as well".
The bank did not specify the exact quantum of dues to be recovered but said that the notice was based on a symbolic possession of the property. The bank has applied for physical possession of the property, and the matter is pending before the Chief Metropolitan Magistrate.
Sunny Deol has told the bank that the property is in use, so the sale will be initiated as per the provisions of the SARFAESI Act, which empowers banks and financial institutions to take possession of assets/properties of credit defaulters without court intervention.
The actor has also approached the bank to settle the dues. The auction of the Juhu property known as Sunny Villa was scheduled to be held on August 25. The minimum bid amount was set at Rs 5.14 crore.
pic.twitter.com/L4BdXxeuyN — Bank of Baroda (@bankofbaroda) August 21, 2023
The auction was withdrawn after the bank received representations from Sunny Deol and his legal team, the bank said. The bank said that it is "committed to resolving the matter amicably" and that it is "in touch with the borrower to find a mutually agreeable solution".
Also Read: Bank withdraws auction notice from Sunny Deol’s Mumbai bungalow after defaulting Rs. 56 crore loan
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