A Debts Recovery Tribunal passed a consent order settling various loan accounts between the applicant and the respondent bank. The court approved installment payments to regularize the accounts and dispose of the Securitization Application upon successful adherence.
Securitization Application disposed of based on agreed settlement terms.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 43
Case No.SA/594/2025
SANWAR MAL TIWARI Vs SMFG INDIA CREDIT COMPANY LIMITED
Date: 04.11.2025.
Proceedings through hybrid mode Present:
Shri Bhrigu Sharma, Counsel for the Applicant along with SA applicant Sh. Sanwar Mal Tiwari
Shri Avinash Kumbhaj, Counsel for the Respondent Bank/FI along with Sh. Niraj Mishra, Collection Manager & Sh. Balkishan Sharma, Legal Officer of the bank.
In this matter, there are three loan accounts in the mortgaged loan Rs. 572850/- is due as EMI and Rs. 47,000/- as expenses. There is another business loan in which Rs. 15.80 Lac are due. There are two business loans in the name of the wife in which Rs. 3.48 Lac are due.
After discussions, both the parties have agreed for the settlement and applicant will make payment of dues agreed as on date in three installments of Rs. 1.14 Lac by 30th November, 2025 i.e. Rs. 3.42 Lac, Second two installments in December, 2025 and Two installment in January, 2026 along with Rs. 47,000/- additional interest of late payment to be paid in February,2026.
Another business loan of Rs. 15.80 Lac, the account is settled for Rs. 4.80 Lac to be paid in three installments i.e. in November, December and January.
Business Loan of wife is also settled for Rs. 2.80 Lac to be paid again in three installments, December, 2025, January, 2026 and February, 2026.
All these payments will make the two loan accounts closed and the mortgaged loan will be regularized. In case of default, the respondent bank will continue with its Securitization proceedings.
The order is passed with the consent and in presence of both the parties.
Court of the Presiding Officer
Debts Recovery Tribunal, Jaipur
In view of the above, this Securitization Application stands disposed of. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
Sanwar Mal Tiwari
SMFG India Credit Company Limited
Vimal Gupta
As recorded by the court registry
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