Sunny Deol's bungalow: The row over the U-turn on the auction of actor's property, explained

Bollywood star and BJP MP Sunny Deol is currently riding high on the success of Gadar 2. However, the actor is also making headlines for not-so-good reasons. Bank of Baroda (BoB) on Sunday issued a notice to Deol for auctioning his villa in Mumbai’s posh Juhu area. However, a day later, the public sector lender withdrew the auction notice citing “technical reasons.” “Coreeigendum to E-Auction Sale notice in respect of Mr Ajay Singh Deol Alias Mr Sunny Deol stands withdrawn due to technical reasons for the mentioned property,” a public notice published by the bank read. Sunny Villa is located in Juhu, which also has the homes of celebrities like Shilpa Shetty, Shraddha Kapoor, Padmini Kolhapuri, and Govinda, among others. It is a 600-square-metre, five-story building with a basement, a theatre, a production office, and a terrace garden. Let’s take a closer look. Also read: Sunny Deol's Gadar 2 trumps Baahubali 2, Pathaan & Dangal, emerges as the highest 2nd Sunday grosser of all time The auction Due to Sunny Deol’s failure to make payments on a loan that was due in December 2022, the bank placed his house up for auction on Sunday in an effort to recoup Rs 55.99 crore. A notification sent by the bank stated that offers were being sought 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 a Rs 5.14 crore earnest money deposit. The notice also stated that, in accordance with the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARAFESI) regulations, it is a legally required 30-day notice and that the guarantors and borrowers may redeem the securities by making the necessary payments prior to the sale. If interest and principal payments are not made for 90 days, a loan is considered to be non-performing (NPA) according to the rules. Banks are required to hold money aside to cover any losses from such loans, and they often sell off such properties to recoup the money. According to Moneycontrol, the notification stated that Sunny Deol was the borrower of the loan, while Vijay Singh Deol, Bobby Deol, or his father Dharmendra Deol were listed as the loan’s guarantors. Sunny Sounds Pvt Ltd served as the mortgage’s corporate guarantor. The Sunny Super Sound recording studio, Sunny’s office, a preview theatre, and two post-production suites are all located in the Juhu villa known as Sunny Villa, which has been in the Deol family for 50 years. The Hindustan Times cites its sources as saying that Deol used this mortgaged property to raise money for his 2016 film “Ghayal Once Again.” Also read: Is Akshay Kumar paying off Sunny Deol's debts to save his villa? OMG 2 actor's representative breaks silence The controversy The bank cancelling the auction has caused a political controversy, with the Congress raising concerns. In a post on X, Congress general secretary Jairam Ramesh said, “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’?”

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’s response Currently, Sunny Deol is in London to promote his movie Gadar 2. Responding to the situation, his team said that the published information had been incorrect. After two days, the actor will return to India and respond to the situation. We are currently working to find a solution to this problem. “We are in the process of resolving this issue and the issue will be resolved. We request no further speculation on the same,” the actor said. It should be noted here that the new development coincides with Deol’s movie’s recent, massive release, Gadar 2. On August 19, the domestic box office for the movie starring him and Ameesha Patel surpassed the Rs 300 million mark. This 2001 hit Gadar: Ek Prem Katha sequel is helmed by Anil Sharma. The film, a creation of Zed Studios, was presented in theatres on 11 August. According to a press release from the producers, the movie has “soared to a remarkable all-time high for any Hindi film,” particularly in regions like Punjab. With inputs from agencies