Archive · 28 Jul 2026
Legal Battle Over Dahisar Property E-Auction
There's a big fight over a large piece of land in Mumbai.
A bank wants to sell it to get back money they say is owed, but the people who own the land say they don't owe that much and the bank's papers are fake.
The bank says the land was used as security for a big loan, but the owners say they only took a small loan and paid it back.
The owners have even gone to the police and the courts to say the bank's papers are fake.
The bank won't talk about it because it's in court, but the owners are warning people not to buy the land until the fight is over.
Unity Small Finance Bank plans to auction a 429-acre property in Dahisar to recover alleged dues of Rs 2,059.30 crore.
Ravijyot Finance & Leasing Pvt. Ltd., the borrower, disputes the mortgage and claims they repaid a Rs 10 crore loan in 2020.
Ravijyot alleges the bank's documents are forged and has filed a complaint with the Mumbai Police's Economic Offences Wing.
The dispute is being adjudicated in the Bombay High Court and the Debt Recovery Tribunal.
Ravijyot has issued a public caution advising against participating in the auction until the dispute is resolved.
- Who
- Unity Small Finance Bank and Ravijyot Finance & Leasing Pvt. Ltd.
- What
- Legal dispute over the proposed e-auction of a 429-acre property in Dahisar.
- When
- Public notice issued on July 27, 2026.
- Where
- Mumbai, India.
- Why
- Dispute over the validity of the mortgage and the authenticity of documents supporting the bank's recovery claim.
Unity Small Finance Bank
Ravijyot Finance & Leasing Pvt. Ltd.
Existence of Mortgage
Unity Small Finance Bank
Claims the 429-acre Dahisar property was mortgaged to secure a Rs 1,220 crore loan to HDIL with outstanding dues of Rs 2,059.30 crore.
Ravijyot Finance & Leasing Pvt. Ltd.
Denies the property was ever mortgaged for HDIL's borrowings and claims only a Rs 10 crore loan was taken, which was fully repaid.
Validity of Documents
Unity Small Finance Bank
Relies on documents including a board resolution, sanction letter, and deed of mortgage to support its claims.
Ravijyot Finance & Leasing Pvt. Ltd.
Alleges the documents are forged, unstamped, and unregistered, and has filed a complaint with the Mumbai Police's Economic Offences Wing.
RBI Compliance
Unity Small Finance Bank
Proceeding with the auction as per legal processes.
Ravijyot Finance & Leasing Pvt. Ltd.
Questions the authenticity of the Rs 1,220 crore HDIL facility, citing RBI norms and the property not being recorded as security in RBI inspection reports.
- Property Size
- 429 acres
- Location
- Dahisar, Mumbai
- Alleged Dues
- Rs 2,059.30 crore
- Original Loan Amount
- Rs 10 crore
- Loan Repayment
- 2020
- Bank Involved
- Unity Small Finance Bank
- Borrower
- Ravijyot Finance & Leasing Pvt. Ltd.
- Legal Proceedings
- Bombay High Court and Debt Recovery Tribunal