In an application under the Recovery Tribunal, the court extended the deadline for the applicant to pay an additional Rs. 2.00 Lac towards a disputed settlement of Rs. 10.84 Lac, allowing the respondent to close the account thereafter.
Directs applicant to pay Rs. 2.00 Lac by 30.05.2026; links closure and NOC to such payment.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 33
Case No. SA/224/2024
GIRDHARI LAL Vs POONAWALLA FINCORP LIMITED
Date: 14.05.2026
Proceedings through hybrid mode:
Present:
Shri Sumit Soni, Counsel for the applicant along with Shri Girdhari Lal, applicant in person
Shri Avinash Kumbaj, Counsel for the Respondent along with Shri Raghuveer Singh Rajawat, Collection Manager of the Respondent FI
This matter was settled for Rs. 10.84 Lac on the condition that payment will be made by 31.03.2026.
Counsel for the Respondent submits that due to March closing, they had already given additional concession in the amount, so the time cannot be extended now. He further submits that they are now ready to accept the settlement payment for Rs. 14.84 Lac.
Counsel for the applicant submits that with great difficulty the applicant has arranged the amount of Rs. 10.84 Lac, they may not be in position to pay any further amount. However, he leaves it to the Tribunal to decide.
Let the applicant make a payment of Rs. 2.00 Lac more by 30.05.2026 besides this cheque of Rs. 10.84 Lac dated 08.05.2026 which is given today to the collection Manager of the respondent FI by applicant. Counsel for the Respondent shall take instructions in this regard and close this account after payment of Rs. 2.00 Lac.
cm
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
In case, any default is made, the cheque is dishonored and Rs. 2.00 Lac has not been paid, then the respondent FI will be at liberty to proceed ahead.
It is ordered that after the payment, NOC shall be issued, documents shall be handed over within two weeks from that date. All the cases filed by parties shall be withdrawn.
With these directions, SA stands disposed of, all pending IAs also stands disposed off, if any.
File be consigned to record as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
cm
2 issues framed by the court
Whether to grant extension of time for payment of deferred settlement amount.
Whether to condition the settlement on quantum default.
Girdhari Lal
Poonawalla FinCorp Limited
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
