Sunny Deol’s Villa In Juhu To Be Auctioned For The Non-Payment Of Rs. 56 Crore By Bank Of Baroda —
A notice regarding the auction has been prominently featured in today’s newspaper. The Juhu Villa will be available for online auction on September 25, 2023. The notice identifies Sunny Deol, also known as Ajay Singh Deol, as both the borrower and guarantor of the loan that remains unpaid. Despite the expiration of the repayment period, the guarantor has been unable to fulfill the financial obligation.
According to banking regulations, a loan is classified as a non-performing asset (NPA) when the repayment of both interest and principal is delayed for a period of 90 days. In such cases, banks are required to allocate funds to cover potential losses from these loans and typically resort to auctioning properties to recover the outstanding amount. While Sunny Deol or his representative have not yet provided any official comments on the matter, it is expected that an official statement will be issued in due course. Stay tuned for further updates.
Sunny Deol’s villa in Juhu will be auctioned to collect the non-payment of Rs. 56 crore by the Band of Baroda. Currently basking in the success of Gadar 2, Sunny Deol seems to be having financial trouble with his loans. The Bank of Baroda will be e-auctioning Juhu Villa, owned by the actor, to recover the loan.A notice for the same was published in today’s newspaper. As per the notice, the Juhu Villa will be auctioned online on September 25, 2023. The notice shows Sunny Deol as Ajay Singh Deol, the borrower as well as the guarantor of the loan, which hasn’t been paid. The period for repaying the money has passed, and the guaranteeer has been unable to pay the amount.
As per the rulebook, a loan is termed a non-performing asset (NPA) if the repayment of interest as well as the principal is delayed for 90 days. Banks are required to set aside money to cover the likely losses from such loans, and they usually auction such properties to recover the amount. Sunny Deol or his spokesperson haven’t commented on the matter yet, but we might hear an official word from them soon. Stay tuned for more updates.