Sunny Deol's Juhu Bungalow Not On Sale, Bank of Baroda Withdraws Auction Notice For Rs 56 Crore Debt Recovery

A day after releasing a tender notice to e-auction Sunny Deol's Juhu villa to recover Rs 56 crore loan, the Bank of Baroda on Monday withdrew the auction notice citing 'technical reasons'.

Sunny Deol's Juhu villa was listed by BoB over Rs 56 crore dues

New Delhi: Actor Sunny Deol is in the news, and its not because of the tremendous success of his latest release 'Gadar 2'. A day after reports suggested  Sunny Deol's Juhu bungalow will be auctioned by Maharastra-owned Bank of Baroda over recovery of Rs 56 crore, it has now been learnt that the bank has withdrawn the for the e-auction of the property due to 'technical reasons'. 

"Corrigendum to e-auction notice with regards to sale auction notice in respect of Mr Ajay Singh Deol alias Mr Sunny Deol stands withdrawn due to technical reasons," said the Bank of Baroda.

For the unversed, on Sunday, the Bank Of Baroda had put on the block a property owned by actor and sitting BJP Member of Parliament Sunny Deol to recover Rs 56 crore through an e-auction to be held on August 25. A tender released by the bank mentioned that the Gurdapur MP has been in default on a Rs 55.99 crore loan from the bank and interest and penalty, since December 2022. The bank, which has attached the property, Sunny Villa located on the Gandhigram Road in the tony Juhu area of the megapolis, had fixed the reserve price for the auction at Rs 51.43 crore and an earnest money deposit of Rs 5.14 crore.

In the newspaper advertisement, that was widely circulated on social media, the bank said borrower Ajay Sing Deol alias Sunny Deol owes the bank about Rs 55.99 crore plus interest and cost from December 26 onwards less recovery up to date.

'Gadar' by Bank of Baroda !!

Actor Sunny Deol's plush Mumbai villa , Sunny Villa located in Juhu,Mumbai is being auctioned by Bank of Baroda for recovery of loan of Rs 55crs and interest. Auction to be held of Sept 25, reserve price Rs 51.43crs pic.twitter.com/TTMRXeWISL — Megh Updates __ (@MeghUpdates) August 20, 2023

Reports suggest that Sunny Deol had leveraged his studio to secure funds for his directorial venture, 'Ghayal Once Again' (2016). In an effort to repay his financiers, he opted for a loan backed by his property.

The Juhu property owned by Sunny Deol, also houses Sunny Sounds studio, which serves as his office, a preview theatre, and two post-production suites. This establishment was founded in the late 1980s. According to the auction notice, Sunny's father and veteran actor Dharmendra is the personal guarantor of the debt.

It is to be noted that Sunny Deol is representing the ruling BJP from the Punjab seat since 2019 when he won the seat with a landslide margin defeating the then Congress member Sunil Jhakar. The seat for previously represented by late actor Vinod Khanna for the Congress.

Speaking of his recent release 'Gadar 2', the film is the sequel to 2001 released 'Gadar' and has emerged as one of the biggest blockbuster of Bollywood this year. The film has easily sailed into Rs 300 crore club in mere 10 days of it arriving in theatres. 'Gadar 2' has succeeded in captivating the audience with its powerful storytelling and impressive performances. Sunny Deol returns as Tara Singh while Ameesha Patel entertains as Sakina.