BoB withdraws Sunny Deol’s villa auction notice, cites technical reasons

The bank had issued the notice as a means to recover a sum of Rs 56 crore through an e-auction process. This reversal in decision occurred within a day of the initial auction notice, which had been scheduled for September 25, 2023.

In another notice published today, the bank stated that the e-auction notice dated August 19, 2023, pertaining to the sale of property belonging to Ajay Singh Deol, also known as Sunny Deol, has been withdrawn due to technical reasons. The property in question, known as Sunny Villa, occupies an area of 599.44 square metres on Gandhigram Road in Juhu, Mumbai. Deol is also Bharatiya Janata Party Member of Parliament from the Gurdaspur constituency in Punjab.

The bank’s auction notice, released on Sunday, had highlighted that there was an outstanding default on a loan of Rs 55.99 crore, coupled with accumulated interest and penalties since December 2022.

The bank had attached Sunny Villa and marked it for auction, with a reserve price set at Rs 51.43 crore and an earnest deposit requirement of Rs 5.14 crore.

The auction notice further indicated that the loan was guaranteed by Sunny Sounds Pvt Ltd and actor Dharmendra Singh Deol. The borrowers and guarantors retain the option to settle the outstanding dues with the bank before any property sale is executed, the notice added.