Bank of Baroda puts actor Sunny Deol’s property on auction for loan dues of Rs 56 cr. Image Source: IANS News

Chennai, Aug 21 : The Central government-owned mortgage lender, Bank of Baroda (BOB) laden with Rs.34,832.16 crore of gross non performing loans as on June 30, has decided to withdraw its decision to auction actor Sunny Deol's Mumbai property for non payment of its loan about Rs 56 crore and interest on that.

The decision comes a day after Bank of Baroda advertised about e-auctioning of the actor's property.

The bank in a newspaper advertisement on Monday said that "the sale notice I respect of Mr. Ajay Sing Deol alias Mr. Sunny Deol stands withdrawn due to Technical Reasons" and listed the description of the property.

On Sunday in the newspaper advertisement, that has been widely circulated in the social media, BOB said the borrower, Sunny Deol, owed the bank about Rs 55.99 crore plus interest and cost from December 26, 2022 onwards less recovery upto date.

Whether the bank misspelt the actor's name as 'Ajay Sing Deol' instead of 'Ajay Singh Deol' is yet to be ascertained.

According to the bank, the property that is put on e-auction measures 599.44 sq. metres and a structure known as Sunny Villa located in Mumbai's Juhu locality.

Sunny Deol is described as the borrower/guarantor and the other guarantors are Dharmendra Singh Deol and Sunny Sounds Pvt Ltd.

The bank is auctioning the property under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022.

The reserve price is about Rs 51.43 crore and the earnest money deposit is fixed as about Rs 5.14 crore.

According to BOB, the property can be inspected between 11 a.m and 1 p.m. on September 14 and the status of the possession is symbolic.

The bank also 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.

The auction notice was issued by BOB's Zonal Stressed Asset Recovery Branch, Ballard Estate, Mumbai.

Sunny Deol was not available on phone when IANS tried to get his reaction to the BOB e-auction advertisement on Sunday.