Legally speaking, until the transfer is recorded in the RTO database, the registered owner remains responsible for the vehicle. So since the bike is still in your name, you should act quickly to protect yourself.
Under the Motor Vehicles Act, 1988 (Section 50), the seller must notify the RTO about the sale. Therefore you should immediately inform the RTO that the bike was sold.
You should submit to your RTO the following :
Copy of Form 29, Copy of Form 30, Delivery note / sale agreement, copy of your ID proof, a written letter stating the date of sale, buyer name and address, that the buyer failed to complete transfer, request the RTO to record the sale in their records and remove liability from you. This is also termed as “Notice of Transfer / Report of Sale.”