The actor and BJP MP, Sunny Deol’s Juhu property was put on auction by Bank of Baroda to recover an amount of 56 crore INR. The state-owned bank had taken this drastic measure to recover the huge amount.
The actor represents the Gurdaspur constituency from the state of Punjab in the Lok Sabha. He had won the election against Sunil Jhakar from Congress in 2019. Previously, the seat was owned by another actor from BJP, Vinod Khanna, for a long period.
On Tuesday, the actor was asked about his comment on the same. Sunny Deol refused to comment on the matter of the auction notice at all.
He said that he did not want to comment on it because it was regarding a personal matter. “Main kuch bhi bolunga, to uska log galat matlab nikalenge,” he added. Whatever he would say on it, people will make out a wrong meaning of it.
Cancellation of Sunny Deol’s the Property Auction Notice
Source: ABP News
Bank of Baroda had withdrawn the property auction notice earlier, stating reasons of technical issues. The two major technical reasons for which the notice against Sunny Deol’s property in Mumbai was withdrawn had been explained by the bank.
The Bank of Baroda spokesperson commented that the total dues of the actor did not specifically talk about the total quantity of dues that had to be recovered. He also quoted Rule 8(6) from the Security Interest (Enforcement) Rules, 2002. According to those rules, the notice for the sale of Sunny Deol’s Mumbai property was created out of a symbolic possession of it.
The Spokesperson also added that after the property auction notice was received, the borrower had mentioned that the unit was running. Sunny Villa, the Juhu property, holds Sunny Deol’s company, Sunny Sound along with other post-production facilities.
Bank Waits for Their Request Approval
Source: Financial Express
Sale action against Sunny Deol’s property will be taken as per the laws written in the SARFAESI Act. The sale cannot take place until physical possession of the property is received.
The Bank made an application to the Chief Metropolitan Magistrate on 1st August, 2024, to request for the physical possession of the property.
After the sale notice was published on Sunday, The Bank of Baroda spokesperson also commented, the borrower had approached the bank for the settlement of the dues. When the borrower/guarantor is notified about their entitlement to redeem the securities by paying off the outstanding dues/costs/charges before the property auction, the lender will wait for 30 days for the borrower to take action on it, as per the spokesperson.
Since the borrower approached the lender for the redemption, the property auction notice against Sunny Deol’s Mumbai plot was withdrawn, as per the normal industrial procedure.
The auction for the property was set to take place on September 25 and the cancellation notice had come in just a day after the invitation of bids for the 600 sq. mt. plot. The reserve price for the plot was marked at 51 crore INR. The property was put on auction to create pressure on the actor to pay his dues.
Sunny Deol’s approach to the bank and his agreement to pay his dues has been taken kindly by the bank, due to which the sale was canceled. The people, still, are wondering who really pulled on the ‘technical reasons’ card.
