However, within 24 hours of putting that notice the bank on Monday has come up with a Corrigendum.

The Corrigendum reads, “Corrigendum to E Auction Sale Notice dated 19.08.2023 published in The Times of India Mumbai Edition (Pg.3) dated 20.08.2023 with regards to Sale Notice in respect of Mr. Ajay Sing Deol Alias Mr. Sunny Deol Stands Withdrawn due to Technical Reasons for the below mentioned Property :All That piece and parcel of land bearing
Survey No. 41 Hissa No 5 (Pt) CTS No. 173 of Village Juhu Taluka Andheri Mumbai Suburban Dist, Admeasuring 599.44 Sq Mtrs underneath a structure known as Sunny Villa situated at
Gandhigram Road Juhu Mumbai 400049. Bearing New Municipal assessment No. 00121047 situated in registration District and Sub district of Mumbai.”

The property was to be auctioned at a reserve price of ₹51.43 crore on September 25.

However now the notice that had announced its auction stands withdrawn.

Sunny Deol has approached the Bank for repaying the loan.

Bank of Baroda on Monday came out with a statement, regarding the clarification, on why the Technical Reason was cited for withdrawing the E-Auction notice. The statement read, “The technical reasons mentioned in the withdrawal of the sale notice published on 21st August 2023 are: First, the total dues did not specify the exact quantum of dues to be recovered. Secondly, the sale notice was based on a symbolic possession of the property as per Rule 8(6) of The Security Interest (Enforcement) Rules 2002. An application has been made for physical possession by the Bank with the Chief Metropolitan Magistrate on 1st August 2023, which is pending for permission. Since the unit is running as conveyed to us by the borrower, sale action will be initiated as per the provisions of the SAFAESI Act, once the physical possession is taken.”

The statement further read, as “In the meantime, the borrower has approached the Bank for settling the dues as per the sale notice published on 20th August’2023, where the borrower guarantors were notified that they are entitled to redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted. Accordingly, the sale notice is withdrawn as per the normal industry practice followed in other cases as well.”

Also Read: Sunny Deol’s Juhu Villa put on Sale by Bank  

The post Sunny Deol Approaches Bank, Wants to Settle the Loan appeared first on Square Feat India.

While his movie has broken box office records, his house named Sunny Villa located in Juhu’s Gandhi Gram Road has been put on auction by Bank Of Baroda. The reserve price set for the house by the bank is ₹51.43 crore. 

An E-auction sale notice of the property under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, read with provision to rule 6(2) & 8(6) of the Security Interest (Enforcement) rules, 2002.

The notice read, notice is here by given to the public in general, and in particular to the borrower, mortgager and guarantors that the below described immovable and movable property mortgage/charged to the secured creditor, possession of which has been taken by the authorised officer of Bank of Baroda, secured creditor will be sold on as is what is, what ever there is and without recourse basis, for recovery of dues in below mentioned accounts. 

The details of borrowers mortgager, guarantors, secured assets, dues, reserve price, auction date and time, EMD and bid increase amount are also mentioned in the notice.

According to the notice, the borrower is Ajay Singh Deol alias Sunny Deol, the guarantors are Vijay Singh Dharmemdra Deol, Dharmendra Deol and Sunny Sounds Pvt Ltd. 

The description of the property is all that piece and parcel of land bearing survey number 41, Hissa number 5 of village Juhi, taluka, Andheri, Mumbai suburban district. 

The property measures 599.44 sq mt, underneath a structure known as Sunny Villa, situated at Gandhigram Road, Juhu, Mumbai. 

The total due that the bank has to recover is ₹55.99 crore plus interest and cost from December 26, 2022 less recovery up to date. The date of the e-auction is September 25, 2023, between 1 to 3 pm.  

The reserve price is ₹51.43 crore, the EMD is 5.14 crore and the bid increase amount is ₹10 lakh. The last date for submission of bid is September 22, 2023 up to 5 pm. Interested bidder can take an inspection of the property on September 14, between 11 am to 1 pm. 

Sunny Deol has been notified by the bank that he and the guarantors are entitled to redeem the securities by paying the outstanding dues/cost/charges and expenses at any time before the sale is conducted, failing which the property will be auctioned/sold and the balance dues if any will be recovered with interest and cost.

Also Read: Akshay Kumar sells his property to Daboo Malik

The post Sunny Deol’s Juhu Villa put on Sale by Bank   appeared first on Square Feat India.