Mumbai, October 30, 2026: The Bombay City Civil Court, Mazgaon, has directed builder Sanjay Bhalerao and three others to pay Rs 4.10 crore to seven members of the Bhatia family after they failed to repay money invested in two real estate projects.
The city civil judge was hearing a suit filed by family members of two brothers, Naresh Bhatia and Manish Bhatia, through their lawyer, Rajesh Vanzara, against Bhalerao and two firms, S.D. Bhalerao Associates and Aditya Enterprises Project Vartak Nagar Builders & Developers.
The court allowed the suit and directed the defendants to jointly and severally pay Rs 4.10 crore with 9 per cent annual interest from the date of filing of the suit until realisation, besides costs.
Investment In Real Estate Projects
According to the plaintiffs, they met Bhalerao in 2011, when he allegedly induced them to invest their lifetime savings in the Vartak Nagar Deepmala and Preeti Park projects, promising 12 per cent annual interest and issuing promissory notes.
However, the defendants allegedly failed to undertake construction or refund the investments. The court noted that Bhalerao subsequently agreed to refund Rs 72 lakh against an investment of Rs 60 lakh and also issued cheques towards repayment. The cheques worth Rs 4.10 crore were dishonoured.
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Court Orders Repayment
Hence, the Bhatia family issued a notice for cheque bouncing and also filed a suit in June 2021 for recovery of the amount invested.
On July 13, 2026, the court asked the defendants to deposit Rs 2.05 crore within two months. However, they failed to comply. Hence, the court allowed the suit filed by the Bhatia family against Bhalerao and the two firms.
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