Facing prospects of his bungalow in Mumbai being auctioned to recover unpaid loans, Bollywood actor Sunny Deol has offered to settle all outstanding dues, prompting state-owned lender Bank of Baroda to drop auction proceedings for the property. The lender issued a statement on Monday, saying that Deol has offered to settle the dues, hours after it withdrew the public notice to auction the villa owned by the actor and sitting BJP Member of Parliament, citing technical reasons, a move that was questioned by the Congress.

"In the meantime, the borrower has approached the bank for settling the dues as per the sale notice published on August 20, wherein the borrower/guarantors were notified that they are entitled to redeem the securities by paying the outstanding dues/costs/charges and expenses at any time before the sale is conducted," the bank said.