The Debts Recovery Tribunal disposed of the settlement application allowing the applicant to pay Rs. 1.38 Crore in installments before 30.06.2026, with a pending deposit handed over on the date of the order.
Periodic payment of Rs. 1.38 Crore by 30.06.2026 permitted; interim payment of Rs. 13.10 Lakhs adjusted against settlement amount.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 13
Case No.SA/907/2025
HOTEL JAI RAM PLAZA Vs SMFG INDIA CREDIT COMPANY LIMITED
Date: 19.02.2026.
Proceedings through hybrid mode:
Present:
Shri Faraz Hussain, Counsel for the applicant along with Shri Shankar Lal Sharma, applicant no. 2 in person
Shri Vineet Sharma, Counsel along with Shri Prathmesh Srivastava, Officer of the Respondent FI
This case is already fixed on 20.02.2026 but applicant has filed physical copy of I.A. for early hearing, Due to technical issues fees of I.A has not been paid and also not uploaded on E-DRT portal.
In this matter, according to the respondent counsel, approximately Rs. 1.61 Crore are due as on date. He submits that if the applicant wants to regularize the account, they will have to pay Rs. 20,27,418/-
Counsel for the applicant submits that they would like to close the account by making the payment under settlement and whatever figure is agreed upon, they will be making the payment within six months from today. The figure agreed upon with the parties is Rs. 1.38 Crore.
Counsel for the respondent submits that they will not be able to give more than 90 days for deposit of settlement amount.
Settlement is a process in which faster recovery comes, ending the entire litigation, therefore the Tribunal is of the opinion that they must be more pragmatic, thought the Tribunal is not
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
agreeable to a six month window for the applicant, but feels that before quarter end, the payment should come.
As per the applicant, Rs. 13,10,111/- DD bearing no. 000051 is being hand over today to the Respondent FI. Rs. 20.00 Lac will be deposited in the month of March, Rs. 50.00 Lac in April, Rs. 30.00 Lac in May and balance amount by 29.06.2026. The amount of DD shall be adjusted in the settlement amount.
The applicant shall give post-dated cheques for the above said amounts within two days from today, therefore finding a middle path, the entire payment of settlement shall be made before 30.06.2026.
In view of the above, Accordingly, SA stands disposed of, all pending IAs also stands disposed off, if any. In case of default, Respondents will be at liberty to proceed ahead as per law.
File be consigned to record as per rules. Copy of order be uploaded on website.
“DASTI”
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
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1 issue framed by the court
Whether the applicant can settle the dues under a time-bound payment plan.
HOTEL JAI RAM PLAZA
SMFG INDIA CREDIT COMPANY LIMITED
Dasti
Vimal Gupta
As recorded by the court registry
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