BoB Cites These ‘Technical Reasons’ Behind Withdrawing Actor Sunny Deol Villa Auction Notice

After being slammed Bank of Baroda came up with these reasons for taking such a decision.

Written by Shivanshi Srivastava August 22, 2023

Sunny Deol

Bank of Baroda withdrew its decision to auction Member of Parliament and veteran actor Sunny Deol’s Villa, the bank the tweeted the reason behind taking this step.

Gadar actor owes Bank of Baroda nearly Rs 55.9 crore plus interest and cost from December 26, 2022 onwards less recovery upto date. The congress party has questioned bank’s decision. All India Bank Employees’ Association’s (AIBEA) General Secretary C.H. Venkatachalam has called the decision as BJP’s phone banking style.

As per IANS, Venkatachalam, “Obviously it is politics. The auction notice was withdrawn due to adverse publicity to the BJP. They are no different. We demand a thorough investigation into this as to who had issued the first advertisement and who had decided to withdraw the same and why. There should be accountability for this.”

After being slammed for such decision Bank of Baroda came up with these reasons for taking such step. The bank said that the total dues do not specify the exact quantum of dues to be recovered.

The second reason bank gave was of sale notice being based on the symbolic possession of the property as per Rule 8(6) of The Security Interest (Enforcement) Rules 2002.

As per the bank, for the physical possession of property an application has been written to the Chief Metropolitan Magistrate on 1 August, 2023 which is pending. Bank of Baroda further mentioned that actor already told about the working of unit and according to the SARFAESI Act, the sale action could only started once pysical possession is taken over.

In its first advertisement the bank said the borrowers/guarantors can redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted.

In this, Sunny Deol was considered as borrower/gurantor and other borrowers were Dharmendra Singh Deol and Sunny Sounds Pvt Ltd. The notice of auction was issued by Bank of Baroda’s Zonal Stressed Asset Recovery Branch, Ballard Estate, Mumbai.

With Agency Inputs