Last Updated: August 20, 2023, 13:18 IST
The bank has published the e-auction notice for Sunny Deol’s bungalow in a newspaper.
According to the notice, Ajay Singh Deol aka Sunny Deol borrowed Rs 55,99,80,766.33 from the Bank of Baroda. He was also the guarantor in this case. The bank has mentioned that his property will be auctioned virtually to recover the dues
Even as Sunny Deol rides high on the success of his recent movie Gadar 2, trouble seems to be mounting for the actor, as a notice put out by a bank in a newspaper has indicated that his Juhu bungalow, Sunny Villa, will be e-auctioned for non-payment of dues on September 25.
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According to the notice, Ajay Singh Deol aka Sunny Deol borrowed Rs 55,99,80,766.33 from the Bank of Baroda. He was also the guarantor in this case. The bank has mentioned that his property will be auctioned virtually to recover the Rs 55.99 crore he owes.
Deol operates his business from the bungalow. The bungalow houses Sunny Super Sound, which is the office of the actor, a preview theatre and two other post-production suites. This office was established in the late 80s.
As per the procedure, Bank of Baroda will approach the District Magistrate and after approval from the DM, the buyer will get physical possession of the property.
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During the virtual auction, the owner who bids the highest will get symbolic possession of the bungalow. After the approval from the DM, he or she can take the actual possession. This process could take from months to years.
According to reports, Deol had mortgaged his studio to raise money for his directorial venture, Ghayal Once Again (2016). To repay the dues to his financers, he decided to take a loan against his property.
