Bank of Baroda withdraws Sunny Deol's Juhu villa auction
23 Aug 2023
2 Min Read
CW Team
Bank of Baroda has reversed its decision to auction actor and BJP Member of Parliament Sunny Deol's villa located in Juhu, citing technical reasons. The announcement to hold an e-auction for 'Sunny Villa' on September 25 was made in a public notice on Sunday. However, a subsequent notice on Monday clarified that the e-auction notice published on August 20 "stands withdrawn due to technical reasons." The bank did not provide further details regarding the withdrawal.
Sunny Deol, the Gurdaspur MP, has faced default on a loan of Rs 559.9 million, along with accrued interest and penalties, since December 2022. In line with the initial notice, the bank had set a reserve price of Rs 514.3 million for the auction, accompanied by an earnest money deposit of Rs 51.4 million.
The property under consideration, which includes Sunny Villa and Sunny Sounds, spans 599.44 square metres and is situated in the Juhu area. The latter serves as a corporate guarantor for the loan, with actor-politician Dharmendra, Sunny's father, acting as the personal guarantor.
The bank's notice also stipulated that the Deol family had the option to settle their outstanding dues to prevent the auction, operating under the provisions of the Sarfaesi Act 2002. While Sunny Deol has been an influential BJP representative from the Gurdaspur seat in Punjab since 2019, the property's attachment has captured public attention, especially given the actor's recent box office success.
Vinod Khanna, another prominent actor, was a long-time representative of the Gurdaspur seat for the Congress party. Sunny Deol's victory in 2019 marked a significant electoral shift in the region, as he secured the seat with a substantial margin, triumphing over the incumbent Congress member.
Bank of Baroda has reversed its decision to auction actor and BJP Member of Parliament Sunny Deol's villa located in Juhu, citing technical reasons. The announcement to hold an e-auction for 'Sunny Villa' on September 25 was made in a public notice on Sunday. However, a subsequent notice on Monday clarified that the e-auction notice published on August 20 stands withdrawn due to technical reasons. The bank did not provide further details regarding the withdrawal.Sunny Deol, the Gurdaspur MP, has faced default on a loan of Rs 559.9 million, along with accrued interest and penalties, since December 2022. In line with the initial notice, the bank had set a reserve price of Rs 514.3 million for the auction, accompanied by an earnest money deposit of Rs 51.4 million.The property under consideration, which includes Sunny Villa and Sunny Sounds, spans 599.44 square metres and is situated in the Juhu area. The latter serves as a corporate guarantor for the loan, with actor-politician Dharmendra, Sunny's father, acting as the personal guarantor.The bank's notice also stipulated that the Deol family had the option to settle their outstanding dues to prevent the auction, operating under the provisions of the Sarfaesi Act 2002. While Sunny Deol has been an influential BJP representative from the Gurdaspur seat in Punjab since 2019, the property's attachment has captured public attention, especially given the actor's recent box office success.Vinod Khanna, another prominent actor, was a long-time representative of the Gurdaspur seat for the Congress party. Sunny Deol's victory in 2019 marked a significant electoral shift in the region, as he secured the seat with a substantial margin, triumphing over the incumbent Congress member.
Next Story
Dassault To Build Falcon Jets In India With Reliance
Reliance Infrastructure Ltd鈥檚 subsidiary, Reliance Aerostructure, has signed an agreement with France鈥檚 Dassault Aviation to manufacture Falcon 2000 business jets in India, with the first batch expected to roll out from its Nagpur facility by 2028. This marks the first time a Falcon aircraft will be entirely built outside France.The announcement sent Reliance Infrastructure shares surging, hitting the 5 per cent upper circuit on the BSE. Anil Ambani, Chairman of Reliance Group, hailed the agreement as a 鈥渟ymbol of India鈥檚 technological and manufacturing strength鈥�, adding that it aims..
Next Story
INDEA Lays Foundation for India鈥檚 First Auto Design School
The Indian School for Design of Automobiles (INDEA), the country鈥檚 first institute focused solely on automobile design and management, held its foundation stone ceremony at XLRI Delhi-NCR. The event was graced by Union Minister for Road Transport and Highways, Nitin Gadkari, who virtually unveiled the stone as Chief Guest.INDEA aims to become a premier talent hub, driving innovation in the Indian automotive sector. The school will focus on advanced design, mobility solutions, and sustainable practices, playing a vital role in shaping India鈥檚 transition from a cost-driven to a quality-led a..
Next Story
Karnataka Launches Global Innovation Hub at Airport City
The Government of Karnataka, in collaboration with Bengaluru Airport City Limited (BACL) and ANSR, has launched a global innovation hub named District I at Bengaluru Airport City's business park. The initiative aims to elevate India鈥檚 innovation ecosystem to a global scale by fostering collaboration among startups, academia, enterprises, and government bodies.District I will serve as a platform for deep-tech entrepreneurship, enterprise innovation, and commercialisation of academic research. It brings together Global Capability Centres (GCCs), IT firms, corporate labs, startups, venture capi..
