MUMBAI, India, Nov. 2 -- Intellectual Property India has published a patent application (202641125263 A) filed by Vellore Institute Of Technology on October 21, 2026, for “a System For Normalization And Settlement Of Shared Financial Obligations Among A Plurality Of Users”.
Inventors include Dr. Arti Tiwari; Adimulam Vijay Pavan; and Vasantha Sasi Deepika.
The application for the patent was published on October 30, 2026, under issue no. 44/2026.
Abstract: The present invention relates to a system and method for normalization and settlement of shared financial obligations among a plurality of users through a persistent pair-level ledger framework. The system records expense transactions, determines individual contribution amounts, and generates corresponding pair-wise obligations between a payer and participating users. Each proposed obligation is initially stored in a pair-level pending obligation queue and remains inactive until acceptance by the concerned user. Upon acceptance, the obligation is transferred to a persistent pair-level ledger maintaining a single net balance for each pair of users independently of the number of groups or transaction contexts in which the users participate. Reciprocal obligations between the same pair are automatically offset to retain a net obligation. The system further identifies indirect obligation paths through intermediate users and, upon approval of affected users, replaces such paths with direct pair- wise obligations. Settlement payables and receivables are determined from the normalized pair-level ledger, thereby reducing redundant and circular settlement transactions. Fig 1 to 2.
Disclaimer: Curated by HT Syndication.
