Sunny Deol's Juhu villa to be auctioned in September to recover Rs 56 crores loan?

The bank put out a notice against Sunny Deol's Sunny Villa in Juhu after the actor-politician failed to repay a loan of Rs 56 crores

While Sunny Deol enjoys the success of Gadar 2, trouble continues to loom over his head. On Sunday, the Bank Of Baroda put out a notice in a newspaper hinting that the actor-politician's bungalow in Juhu, Sunny Villa, will be auctioned for non-payment of dues on September 25. Reportedly, the bank has to recover around Rs 56 crores from him along with the interest on the loan.

The notice put out by the Bank Of Baroda mentioned Sunny's real name, Ajay Singh Deol, and stated that the bungalow, where a recording studio has been set up is named Sunny Villa. Other loan details have been mentioned. Sunny's brother Bobby Deol, whose real name is Vijay Singh Deol, father Dharmendra Singh Deol, and Sunny Deol's company Sunny Sounds Pvt Ltd are named as Guarantors and Corporate Guarantors for the loan that he had borrowed from Bank of Baroda.

Sunny runs his business from the bungalow. The property houses Sunny Super Sound, which is the actor's office, a preview theatre, and two other post-production suites. Reportedly, the office was established in the late '80s. The theatre and the post-production studios are equipped with modern technology for quality cinema. Several special previews of films were hosted at Sunny Super Sound over the past few months.

Reportedly, the Bank Of Baroda has kept a reserve price of Rs 51.43 crores for the auction and Earnest Money Deposit for the auction is around Rs 5.14 crores, whereas the auction bid increase is Rs 10 lacs. According to Bollywood Hungama, a source informed, "The notice states that the buyer, after paying the amount, will get ‘symbolic possession’. After the amount is deposited, Bank Of Baroda will approach the District Magistrate. Once the DM approves, the buyer will get physical possession of the property. However, this process can be slow and can take months or even years. Until then, Sunny Deol can operate his business from Sunny Villa."

According to a Bombay Times report in February 2016, Sunny had mortgaged the studio to raise money for his directorial venture, Ghayal Once Again (2016). He decided to take a loan against the property to repay the dues to his financers.

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