BoB to auction Sunny Deol’s Juhu property to recover ₹56 cr

livemint.com:

Bank of Baroda (BoB) has decided to auction actor Sunny Deol’s property in Juhu to recover ₹56 crore. In an auction notice put out in newspapers, a week after the release of the actor’s movie Gadar 2, the bank has named Ajay Singh Deol, alias Sunny Deol—a member of parliament—the borrower and guarantor, along with brother Bobby and father Dharmendra as guarantors. The bank has set 25 September as the date for the e-auction, bids for which have to be submitted by 5 pm on 22 September.

The reserve price for the proposed sale is ₹51.43 crore. The notice says the borrowers or guarantors can redeem the securities by paying the outstanding dues, costs or charges anytime before the sale is conducted. According to BoB, the property includes “all that piece and parcel of land bearing survey no.41, hissa no.5 (pt) CTS no.

173 of village Juhu, taluka Andheri, Mumbai suburban district, admeasuring 599.44 square meters underneath a structure known as Sunny Villa situated at Gandhigram Road, Juhu". A person close to the Deol family said on the condition of anonymity that the property has been up for sale for some time, but there has been no buyer at the asking price. The person also said BoB has now come out with an auction notice because Deol is in the news after the success of Gadar 2.

However, the star is not a shareholder in the movie and has already received his fee. “At best, he will get some amount as a bonus because of the success of the movie, but it is much less than the amount the family owe to the bank. Right now, either they will have to liquidate some real estate or Sunny will have to sign some more films and raise capital as a signing fee if he wants to save the property from getting auctioned off," the person said.