Public sector lender Bank of Baroda has issued actor Sunny Deol a notice for auctioning his villa in Juhu, Mumbai, citing non-payment of dues amounting to close to Rs 56 crore.

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In a notice published on August 19, 2023 in a national newspaper, the lender said the villa would be e-auctioned on September 25 because of non-payment. According to the notice, Ajay Singh Deol, alias Sunny Deol, is the borrower as well as guarantor of the loan and has allegedly not been able to pay the amount to the bank on time.

As per the rules, a loan becomes a non-performing asset (NPA) if the repayment of interest is abset as well as the principal 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.

The loan was taken to finance a film in 2016 and it has been an NPA ever since December 2022, a personal familiar with the matter told Moneycontrol.

Moneycontrol said it had emailed the lender for an official response but had not yet received one. Sunny Deol's representative told Moneycontrol that they were in the process of resolving the issue, which would happen soon and they have requested no further speculation regarding the same.

This comes in the backdrop Deol's recent mega reseals Gadar 2, starring him as well as Ameesha Patel, which has crossed Rs 300 crore at the box office on August 19, domestically.

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First Published:Aug 20, 2023 3:52 PM IST