State-owned Bank of Baroda has reversed its decision to auction Bollywood actor Sunny Deol’s Juhu villa due to technical reasons, just a day after issuing the notice.
What Happened: Initially, the bank planned to auction the property on September 25, citing Deol’s alleged default on a ₹56-crore loan. The actor, whose real name is Ajay Singh Deol, was named as the borrower and guarantor of the loan, which had reportedly turned non-performing due to delayed payments.
A loan becomes a non-performing asset if interest and principal are not repaid for 90 days. When banks need money to cover likely losses from such loans, they typically auction such properties to recover the amount. However, the bank withdrew the notice, citing technical reasons, after it had issued the auction notice in a national newspaper.
Deol’s recent movie release, Gadar 2, a sequel to the 2001 blockbuster Gadar: Ek Prem Katha, has enjoyed significant success at the domestic box office, crossing the ₹300 crore mark. The decision to cancel the villa auction comes amid the film’s upbeat run in theatres.
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