The Delhi High Court has warned that if the judgment debtors fail to file their asset-disclosure affidavits, they will have to be physically present in court on the next date of hearing.
In the execution petition filed by Shiva Texyarn Ltd, the Court had first directed on March 19, 2025, that each judgment debtor must file separate affidavits disclosing all movable and immovable assets owned by them, ‘so that the distinction between the assets inherited can be specifically identified’. When this was not complied with, the Court again, on September 25, 2025, recorded that although the judgment debtors had filed affidavits stating they had not inherited assets from the late Raunaq Singh and A.P. Kanwar, they had still not filed the mandatory separate affidavits detailing their movable and immovable assets. Four weeks were granted for compliance, with the Court also noting the parties’ agreement to constitute a confidentiality club to protect sensitive financial details.
When the matter was taken up again on November 20, 2025, counsel for the judgment debtors sought additional time. The Court granted a last opportunity to file the required affidavits and warned that any judgment debtor failing to comply would be required to appear in person on the next date of hearing, on 24 February 2026. The Court also directed counsel to ensure that replies stated to have been filed in connected applications were properly placed on record.
Appearances
Decree Holder- Mr. Satvik Varma, Sr. Advocate with Mr. Nakul Gandhi, Mr. Akshay Nagarajan, Mr. Mujeeb, Ms. Tanish Gupta, Ms. Siddhi Sahoo, Mr. Avi Kaushik, Mr. Shantanu Parmar and Mr. Balram, Advocates.
Judgement Debtors- Mr. Sanjoy Ghosh, Sr. Advocate with Mr. Avinash Lakhanpal, Mr. Ashish Bhardwaj, Mr. Rahul Singh and Mr. Rohan Mandal, Advocates.
