Sunny Deol’s Sunny Villa in Juhu to be auctioned in September 2023 for non-payment of dues amounting to Rs. 55.99 crores

Sunny Deol is on a high right now as his latest film, Gadar 2, is doing record business at the box office. In 9 days, it has earned nearly Rs. 336 crores, surprising the trade and industry. However, on the other hand, it has come to light that he is facing financial difficulties. As per a notice in The Times Of India dated August 20, a notice published by Bank Of Baroda states that Sunny Villa, owned by the actor and situated in Mumbai’s Juhu area, will be e-auctioned for non-payment of dues.

The notice states that Ajay Singh Deol aka Sunny Deol is the borrower and guarantor and that the total amount owed by him to the bank is Rs. 55,99,80,766.33. In other words, he owes Rs. 55.99 crores or nearly Rs. 56 crores which he failed to pay on time. As a result, the property will be auctioned on September 25, 2023. The auction won’t be held physically and will be done virtually.

An insider told Bollywood Hungama, “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.”

Sunny Villa houses Sunny Super Sound, the office of the actor, a preview theatre and two other post-production suites. The preview theatre is extremely famous and most of the big releases have their cast and crew and industry screenings at Sunny Super Sound. Several press shows for journalists are also held here. Established in the late 80s, the theatre and the post-production studios have been equipped with modern technology.

As per a report in Bombay Times in February 2016, Sunny Deol had mortgaged his studio to raise money for his directorial venture, Ghayal Once Again (2016). This report stated that to repay the dues he owed to his financiers; he decided to take a loan against his property.

Also Read: Sunny Deol opens up on the success of Gadar 2; says, “When we did the second part of Gadar we never knew it would be so loved”

from Latest Bollywood News | Hindi Movie News | Hindi Cinema News | Indian Movies | Films - Bollywood Hungama https://ift.tt/F6aNSmj
via IFTTT