Unity Small Finance Banks Dahisar Property E-Auction Challenged By Borrower Over Disputed ₹2,059-Crore

Unity Small Finance Bank proposed an e-auction of a 429-acre Dahisar property over disputed dues of Rs 2,059 crore.

Borrower Ravijyot Finance & Leasing says a Rs 10 crore loan from PMC Bank was fully repaid in 2020 and denies the property was mortgaged for HDIL's borrowings.

Ravijyot alleges forgery of documents dated September 11, 2018, and has filed a complaint with Mumbai Police's EOW.

Ravijyot argues that HDIL's account was NPA since 2011, making a 2018 sanction of Rs 1,220 crore contrary to RBI norms.

Unity Small Finance Bank declined comment, citing sub judice proceedings before DRT and Bombay High Court.