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Sunny Deol: BOB told the reason for withdrawing the notice, know what was said in the statement issued by the bank

Pankaj Prasad
Sunny Deol Notice Row
Sunny Deol Notice Row

Bank of Baroda has issued a statement regarding the withdrawal of the notice related to the sale of BJP MP Sunny Deol's bungalow.

Bank of Baroda has issued a statement regarding the withdrawal of the notice related to the sale of BJP MP Sunny Deol's bungalow. The bank said in a statement that there were several technical reasons behind the withdrawal of the sale notice of actor and BJP MP Sunny Deol's Juhu bungalow in Mumbai.

The reason given by the bank for withdrawing the notice issued for the sale of Sunny's bungalow

The bank stated that at first the exact amount of dues to be recovered in the total outstanding was not specified. The second reason was that the sale notice was based on symbolic possession of the property as per Rule 8(6) of the Security Interest (Enforcement) Rules, 2002. An application for physical possession has been made by the bank to the Chief Metropolitan Magistrate on August 01, 2023. Which is still pending for permission. Since the unit is under construction as stated by the borrower, after receipt of physical possession, sale proceedings will be initiated as per the provisions of the SARFAESI Act.

The bank was also contacted on behalf of the borrowers

Meanwhile, the borrower approached the bank to settle the dues as per the sale notice published on August 20, 2023. Where the borrowers/ guarantors have been informed that they are entitled to encash the securities by paying the due amount/ cost/ fee at any time before the conduct of the sale. In such a situation, it was decided to withdraw the sale notice. In other such cases also the sale notice has been withdrawn as per normal industry practice.

The statement issued by Bank of Baroda