IIFL Home Finance Rs1.8 Cr Settlement Order

Petition: Special Leave to Appeal (C) No.14976/2026
Origin: Impugned final judgment and order dated 09‑04‑2026 in WP No. 3703/2026 of the High Court of Bombay
Supreme Court Hearing Date: 29‑05‑2026
Court: Supreme Court of India, Court No. 6, Section IX
Bench: Hon’ble Mr. Justice J.B. Pardiwala, Hon’ble Mr. Justice S.V.N. Bhatti
Relevant Prior Orders: Order dated 04‑05‑2026 (referencing order dated 27‑04‑2026 requesting information)

Petitioner(s): Vijay Prasade & Ors.
Respondent(s): IIFL Home Finance Ltd. & Ors.
Counsel for Petitioners: Mr. Vishesh Vijay Kalra (Advocate on Record)
Counsel for Respondents: Mr. Nishant Awana, Ms. Rini Badoni, Mr. Ram Sharma (Authorized Representative of IIFL Home Finance Ltd.), Ms. Rukhmini Bobde, Mr. Siddharth Dharmadhikari, Mr. Aaditya Aniruddha Pande, Mr. Shrirang B. Varma, Mr. Vinayak Aren, Mr. Jatin Dhamija, Ms. Aishwarya Nigam (all Advocates on Record)
Deponent (Affidavit): Raj, Legal Manager, IIFL Home Finance Ltd., New Delhi (aged ~29)

1. Determination of the amount due and payable by the petitioners as on 28‑04‑2026, including interest.

2. Whether any one‑time settlement scheme is operative for the loan account.

3. Whether the petitioners had proposed a settlement of Rs 90 lakh and the respondent’s response to that proposal.

4. Disclosure of the principal loan amounts sanctioned, amounts repaid over the years, and outstanding balances for each loan account.

Amount Due: Rs 3,58,77,123.58 (as on 28‑04‑2026) covering five active loan accounts.
One‑time Settlement Scheme: The respondent confirmed that no such scheme is operating for the petitioners’ loan account.
Petitioner’s Rs 90 lakh Proposal: A letter dated 20‑04‑2026 from the petitioners proposing Rs 90 lakh settlement was rejected by the respondent in a letter dated 21‑04‑2026 (Annexure A‑1).
Loan Disbursement & Repayment Details:

| 1 | 17‑07‑2012 | 17,500,000 | 17,500,000 | 2,664,321 | 9,409,687.85 |

| 2 | 25‑03‑2014 | 20,000,000 | 20,000,000 | 25,957,005 | 0 (Account Closed) |

| 3 | 29‑05‑2015 | 7,300,000 | 7,300,000 | 5,810,968 | 10,020,361.92 |

| 4 | 26‑08‑2016 | 16,000,000 | 16,000,000 | 16,908,563 | 12,269,998.13 |

| 5 | 31‑01‑2021 | 425,000 | 425,000 | 100,567 | 717,185.52 |

| 6 | 31‑05‑2021 | 2,500,000 | 2,499,908 | 848,355 | 3,459,890.16 |

| Total | – | 63,725,000 | 63,724,908 | 76,268,669 | 35,877,123.58 |

The affidavit affirms that all facts are derived from official records and no material facts have been concealed.

The respondent indicated willingness to settle the entire dispute for Rs 1,80,00,000 (One Crore Eighty Lakh).
The Court directed the petitioners to deposit Rs 65,00,000 (Sixty‑Five Lakh) with IIFL Home Finance Ltd. on or before 15‑07‑2026.
Failure to deposit the stipulated amount by the deadline will result in the closure of the matter.
The next hearing is listed for 23‑07‑2026.

Petitioners must arrange payment of Rs 65 lakh to the respondent by the specified date.
Upon receipt, the respondent may proceed with the proposed settlement of Rs 1.80 crore, subject to court’s further orders.

Interim order issued by the Deputy Registrar Court Master (NSH) – Vishal Anand, Pooja Sharma – to enforce the deposit and schedule further hearing.
The Court retained jurisdiction to pass additional orders on the subsequent hearing date.
If the Rs 65 lakh is not deposited by 15‑07‑2026, the Court will close the proceedings, effectively terminating the petition.