After the controversy over Bank of Baroda's withdrawal of the notice to auction actor-MP Sunny Deol's bungalow erupted, the lender has now issued a fresh statement.
“First, the total dues did not specify the exact quantum of dues to be recovered. Secondly, the sale notice was based on a symbolic possession of the property as per Rule 8(6) of The Security Interest (Enforcement) Rules 2002”, the bank said in a statement.
“An application has been made for physical possession by the Bank with the Chief Metropolitan Magistrate on 01st August’2023, which is pending for permission. Since the unit is running as conveyed to us by the borrower, sale action will be initiated as per the provisions of the SARFAESI Act, once the physical possession is taken”, the BoB statement added.
The bank added that the ‘borrower’ (referring to Deol) approached it for settling dues as per sale notice published on August 20, where the “borrower/guarantors were notified that they are entitled to redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted”.
“Accordingly, the sale notice is withdrawn as per the normal industry practice followed in other cases as well”, the bank's spokesperson said.
Earlier in the day, a massive controversy erupted after the opposition including Congress questioned the bank's withdrawal of notice for e-auction of a bungalow in Juhu which belongs to actor and BJP MP Sunny Deol.
“Yesterday afternoon the nation got to know that Bank of Baroda had put up the Juhu residence of BJP MP Sunny Deol for e-auction since he has not paid up ₹56 crore owed to the Bank. This morning, in less than 24 hours, the nation has got to know that the Bank of Baroda has withdrawn the auction notice due to ‘technical reasons’. Wonder who triggered these ‘technical reasons’?" senior Congress leader Jairam Ramesh said in a post on X (formerly Twitter).
Deol's bungalow in Mumbai's Juhu had been put up for auction by the Bank of Baroda after the actor had failed to repay a loan of ₹55.99 crore due from December 2022. The actor's Sunny Villa bungalow houses the Sunny Super Sound recording studio, his office, a preview theatre and two post-production suites.
“Accordingly, the sale notice is withdrawn as per the normal industry practice followed in other cases as well”, the bank's spokesperson said.
Earlier in the day, a massive controversy erupted after the opposition including Congress questioned the bank's withdrawal of notice for e-auction of a bungalow in Juhu which belongs to actor and BJP MP Sunny Deol.
“Yesterday afternoon the nation got to know that Bank of Baroda had put up the Juhu residence of BJP MP Sunny Deol for e-auction since he has not paid up ₹56 crore owed to the Bank. This morning, in less than 24 hours, the nation has got to know that the Bank of Baroda has withdrawn the auction notice due to ‘technical reasons’. Wonder who triggered these ‘technical reasons’?" senior Congress leader Jairam Ramesh said in a post on X (formerly Twitter).
Deol's bungalow in Mumbai's Juhu had been put up for auction by the Bank of Baroda after the actor had failed to repay a loan of ₹55.99 crore due from December 2022. The actor's Sunny Villa bungalow houses the Sunny Super Sound recording studio, his office, a preview theatre and two post-production suites.