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Bank of Baroda withdraws auction notice for Sunny Deol's villa

10:29 PM | 21 Aug, 2023
Bank of Baroda withdraws auction notice for Sunny Deol's villa
Source: Instagram

Sunny Deol's lavish villa, nestled in the upscale locale of Juhu in west Mumbai, recently became a subject of financial scrutiny. The Bank of Baroda had initiated proceedings to auction off the property to recover a loan the actor had taken. The loan amount, reportedly totalling around Rs 56 crore, had been coupled with accrued interest.

However, now the Bank of Baroda has decided to retract the e-auction notice for Sunny Deol's Juhu bungalow due to "technical reasons". This development was marked by the publication of a corrigendum on August 21 that officially conveyed the withdrawal due to unresolved technical issues.

While representatives from Sunny Deol's team had acknowledged the auction notice on the initial date, they contested the stated loan amount, asserting inaccuracies. Moreover, they assured that the actor was in the process of settling the dues within a day or two.

The Bank of Baroda has since issued a comprehensive statement clarifying the situation surrounding the withdrawal. The statement says, "The technical reasons mentioned in the withdrawal of the sale notice published on 21st August 2023 are twofold. First, the total dues did not specify the exact quantum of dues to be recovered. Second, the sale notice was based on a symbolic possession of the property as per Rule 8(6) of The Security Interest (Enforcement) Rules 2002. An application has been made for physical possession by the Bank with the Chief Metropolitan Magistrate on 01st August 2023, which is pending permission. As the property is currently operational, the sale action will be initiated in accordance with the provisions of the SARFAESI Act once physical possession is secured."

In the interim, the borrower, Deol, has initiated contact with the bank to explore options for settling the outstanding dues. The sale notice published on August 20, 2023, conveyed to the borrower and guarantors their entitlement to redeem the property by clearing the outstanding dues, costs, charges, and expenses prior to the sale's execution. As the matter continues to unfold, both parties navigate the intricacies of the financial and legal landscape.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan - Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 24 Feb 2024

Pakistani currency remains largely stable against US dollar and other currencies in the open market on February 24, 2024.

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

On Saturday, Euro stands at 302  for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 24 February 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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