Disposed

Agarwal Khad Beej Bhandar v. Protium Finance Limited

DRT9 Dec 2025SA/721/2025

Case brief

AI extract

What is this about?

Presiding Officer recorded a settlement agreement where the applicant pays Rs. 1.40 Cr to the respondent FI in four instalments. Auction was cancelled and Securitization Application disposed upon payment criteria and undertakings regarding cheque delivery and possession restoration.

What did the court decide?

Auction cancelled; Securitization Application disposed of pending performance of settlement payment terms and cheque undertakings.

Agarwal Khad Beej Bhandar versus Protium Finance Limited — Execution and Attachment | DRT (2025)

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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Item No. 28

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Case No.SA/721/2025

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AGARWAL KHAD BEEJ BHANDAR Vs PROTIUM FINANCE LIMITED

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Date: 09.12.2025.

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Proceedings through hybrid mode Present:

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Shri Amit Kumawat, Counsel for the applicant

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Shri Jitendra Choudhary, Counsel for the Respondent Bank/FI along with Sh. Ashok Kumar, AR of the Respondent FI

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In this matter, a settlement has been arrived at for an amount of Rs. 1.40 Cr. The applicants wanted to pay Rs. 1.00 Cr. The respondent bank asking comes to Rs. 1.52 Cr. which according to them was a reasonable amount, however, after intervention of the Court, parties have discussed the matter and has arrived at the settlement and a demand draft of Rs. 26.80 Lac is handed over to the bank by the applicant. Another, Rs. 13.20 Lac shall be paid by 31.12.2025, Rs. 50.00 Lac shall be paid by 31.01.2026 and final Rs. 50.00 Lac shall be paid by 28.02.2026. Total settlement amount is Rs. 1.40 Cr.

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Three post dated cheques for the amount as discussed above, shall be handed over to bank by the applicant within two days from today. It is made clear that if any of the cheque bounce or there is any default, the respondent bank will be at liberty to continue with their recovery proceedings.

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With these observations the auction stands cancelled and this Securitization Application stands disposed of. If there is a default in making payment they all expenses have to be burden on the applicant herein.

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After the making of entire payment, the respondent bank shall restore the possession, No Dues Certificate will be issued and Original property papers be released to the applicant/borrower.

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Accordingly, this Securitization Application stands disposed of. File be consigned to record, as per rules. Copy of order be uploaded on website.

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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur

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Agarwal Khad Beej Bhandar v. Protium Finance Limited

Case brief

What is this about?

What did the court decide?

Agarwal Khad Beej Bhandar v. Protium Finance Limited

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Parties & counsel

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