Sunny Deol Fails to Repay Rs. 56 Crore Loan to Bank of Baroda
Recently Bank of Baroda put out an auction notice in newspapers for Sunny Deol’s property as he had defaulted on a loan.
Sunny Deol's latest movie Gadar 2 is a box office success having already earned over ? 300 crore since its release on 11th August 2023. The actor is officially known as Ajay Singh Dharmendra Deol.
Recently a government-owned bank - Bank of Baroda put an auction notice out in newspapers that said that Ajay Singh Dharmendra Deol who is also known as Sunny Deol, has been in default on a ? 55.99 crore loan from the bank. This amount includes interest and penalty from December 2022. However, the notice does not state the total loan amount taken. Sunny Deol was the borrower while his brother Bobby Deol and Father Dharmendra were the guarantors. This is why the bank has put his Sunny Villa on auction. The property is located in Juhu, Mumbai. The bank has set 25 September as the date for the e-auction. Bids for the auction have to be submitted by 5 pm on 22 September. The notice says the borrowers or guarantors can pay the outstanding dues before the sale is conducted and stop the auction.
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 owes 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.
If the property is auctioned, the buyer will only get symbolic possession, as physical possession has to be approved by a district magistrate, the person said, adding that till then, Deol can operate his business from Sunny Villa. Now on Sunday 20 August 2023, BoB again issued a notice in the newspaper saying they have withdrawn the auction notice due to technical reasons.
