On Tuesday, Bollywood actor Sunny Deol steadfastly declined to comment on the Bank of Baroda’s notification of a property auction, stating that such matters are private.
Sunny Deol on his property issue
Sunny Deol, an actor and BJP member of parliament owned the property that the state-owned Bank of Baroda planned to auction in order to recoup 56 crore rupees.
“I have no comment to make. These are private issues. Sunny Deol said, “Main kuch bhi bolunga, log galat matlab nikalenge.
What has BOB had to say?
While this was going on, the Bank of Baroda gave two significant “technical” justifications for withdrawing the auction notice for actor-turned-parliamentarian Sunny Deol’s Mumbai house.
The sale notice was previously retracted, with “technical reasons” given.
The technical reasons
“First, the total amount owed did not state the precise amount of debt that needed to be paid back. Second, in accordance with Rule 8(6) of the Security Interest (Enforcement) Rules 2002, the sale notice was based on a hypothetical possession of the property. A Bank of Baroda representative said in a statement that the bank filed an application with the Chief Metropolitan Magistrate on August 1, 2023, seeking physical possession.
The unit is operating as the borrower has informed us; therefore, once physical ownership is obtained, sale proceedings will begin in accordance with the SARFAESI Act, the spokeswoman added.
According to the sale notice published on Sunday, “where the borrower or 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,” the bank said the borrower has contacted the lender to settle the debt.
The sale notification is withdrawn citing these grounds in accordance with customary industry practice, which is also applied in other situations, the spokeswoman continued.
