Delhi High Court - Orders
Sainik Industries Pvt Ltd vs Indian Sugar Manufacturing Company ... on 24 April, 2023
Author: Yashwant Varma
Bench: Yashwant Varma
$~38
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ EX.P. 24/2023
SAINIK INDUSTRIES PVT LTD ..... Decree Holder
Through: Ms. Preeti Gupta, Adv.
versus
INDIAN SUGAR MANUFACTURING COMPANY
LIMITED ..... Judgement Debtor
Through: None.
CORAM:
HON'BLE MR. JUSTICE YASHWANT VARMA
ORDER
% 24.04.2023 Notice. Although the judgment debtor is stated to have been placed on advance notice, none has appeared on its behalf when the matter was called. Consequently, let learned counsel for the decree holder take steps for service through all permissible modes including via approved courier service.
The present execution petition has been moved in respect of a summary judgment rendered by the Court on 12 January 2023.
In the absence of any restraint operating in respect of that judgment, let the judgment debtor file its objections within a period of three weeks from today. The judgment debtor shall also place on the record its Affidavit of Assets in terms of the format which stands appended to the present order.
List again on 02.08.2023.
YASHWANT VARMA, J.
APRIL 24, 2023 bh Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 FORMAT OF AFFIDAVIT OF ASSETS AND INCOME OF THE 1 JUDGMENT-DEBTOR I/we_______________________, son of / daughter of wife of / _______________________, aged about ____ years, resident of ___________________________, am/are the Proprietor/Directors/Promoters/Partners/Karta/Managing Trustee of the_______________ _________________ and I/we do hereby solemnly affirm and declare as under:
S. No. Description Particulars
1. Whether judgment-debtor has the means to satisfy the award/ decree/order? If yes, please give the proposed Schedule of payment:
2. Details of registration and incorporation
3. Current address of registered office and the addresses of registered offices in the last ten years
4. Particulars of shareholding of the judgment-
debtor and inter-se relationship of shareholders
5. Particulars of the Partners/Directors/Promoters and other key managerial staff with their name, age, designation, length of employment, past employment details of past ten years, complete residence address, their shareholding in the Company, its subsidiaries, its joint ventures and other associated entities 1 Note 1 - If the judgment debtor is a company, this affidavit has to be executed by all any Director/Promoter duly authorized in this behalf (other than independent/non- executive/nominee directors); If the judgment debtor is a partnership firm, this affidavit has to be executed by any of its partners duly authorized in this behalf; If the judgment debtor is a proprietorship firm, this affidavit has to be executed, by its proprietor and in case of a trust, by its Managing Trustee.
Note 2 - All the documents attached to this affidavit have to be self-attested by the Signature Not Verified deponent.
Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:036. Name and addresses of the Partners/Directors/ Promoters on the date of the incorporation
7. Name and addresses of the Partners/Directors/ Promoters on the date of the beginning of the cause of action
8. Name and addresses of the Partners/Directors/ Promoters on the date of the decree/ award was passed
9. Name and addresses of the Partners/Directors/ Promoters on date of the affidavit
10. Particulars of all related parties including subsidiary companies, sister concerns, agencies, distributors etc.
11. Net worth of the Business/Firm/Company
12. Number of employees
13. Location of the statutory records and books of account of the judgment-debtor
14. Location of assets of the judgment-debtor
15. Particulars of the transactions with the related parties whether in the form of expenses, loans or otherwise from the date of the beginning of cause of action upto the date of the affidavit
16. Has the judgment-debtor transferred any assets to any Directors /Promoters /Partners /Proprietor/ Trustee? If so, give particulars STATEMENT OF ASSETS S.No. Assets List of Assets Present Estimated On the date of On the Present Market the cause of date of the Value action decree /award
17. (i) Immovable properties Particulars of the immovable properties Signature Not Verified including joint properties, Digitally Signed built up properties, lease By:NEHA Signing Date:26.04.2023 16:37:03 hold properties, land /agricultural land and investment in real estate such as booking of plots, flats, etc. of the judgment- debtor
(ii) Possession Whether the possession of the above properties is with the judgment-debtor? If no, give status of the possession
(iii) Title documents Whether the title documents of the above properties are with the judgment-debtor? If no, give status of the possession of the title documents
(iv) Litigation Whether any litigation is pending in respect of the above properties. If so, give particulars
18. Financial Assets/Debts: Name of Bank Curren S.No. Account t
(i) Particulars of all bank Number Balanc accounts including Current and e Savings Accounts in judgment- debtors' name or joint names 1.
with the judgment-debtor presently maintained.
2.Note : If any bank account(s) has/have been classified by the banks as willful defaulter under 3. the Master Circular on 'Wilful Defaulters' dated 01.07.2015 [RBI/2015-16/100DBR.No.CID. 4. BC. 22/20.16.003/2015-16] or Reserve Bank of India (Frauds 5. classification and reporting by commercial banks and select Financial Institutions) directions 6. 2016 under Master Circular dated 01.07.2016 (RBI /DBS/ 7. Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 2016-17/28 DBS. CO.
CFMC. BC. No.1/23.04.001 /2016-17), give particulars of 8. such bank accounts.
Details Curren
t Value
of
Shares
(ii) Particulars of DEMAT
accounts held by judgment-
debtor and presently
maintained.
(iii) Cash in hand
(iv) Particulars of the safety deposit of lockers in the name of the judgment-debtor or in joint names with the judgment-debtor
(v) Particulars of the debts/ liabilities of the judgment- debtor
(vi) Particulars of the overdraft facility along with name and address of the bank, branch, account No., type and particulars of the security given to secure the overdraft
19. Investments Particulars Curren t Value
(i) FDR(s), NSC, IVP, KVP, Post Office schemes, Provident Fund(s) etc.
(ii) Deposits with Government and Non-Government entities
(iii) Stocks, shares, debentures, Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 bonds, units and mutual funds, etc.
(iv) Insurance policies
(v) Loan given
(vi) Details of the foreign investments made including those made in last ten years or from the date of beginning of cause of action, whichever is later
(vii) Other investments not covered by above items
20. Movable Assets Particulars Cost of Acquisi
(i) Motor Vehicles (List of tion cars, motorcycles, scooters etc. along with their brand and registration number)
(ii) Livestock
(iii) Plant &Equipments
21. Intangible assets Intangible assets including patents, trademark, copyright, design, goodwill and their value
22. Garnishee(s)/Trade receivables
(i) Name(s) and addresses of Garnishee(s) and the particulars of the debt, share and other properties recoverable from the Garnishee(s) with complete details of the transactions
(ii) Trade receivables along with name, address and amount due from each Garnishee(s) Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03
23. About disposal of properties
(i) Particulars of properties transferred/agreed to be transferred or parted with the possession by any mode including sale, gift, relinquishment, General Power of Attorney, Special Power of Attorney, exchange, agreement, family settlement, lease, transfer of share holding/investment etc. from the date of beginning of cause of action, whichever is later; name/address of the transferee and the sale consideration received from the transferee(s)
(ii) List of properties that have ever been in judgment- debtors' name or in which judgment-debtor had any right/ interest
24. Existing charges on the assets
(i) Particulars of existing charges on the assets of the judgment-debtor including mortgage, charge, pledge on the assets
(ii) Whether the charges are registered, and the present status of the same
(iii) Whether any of the assets are subject to attachment proceedings under any Act including Prevention of Money Laundering Act, 2002; Income Tax Act, 1961; Benami Transactions (Prohibition) Act,1988 and Black Money (Undisclosed Foreign Income and Assets) and Imposition of Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 Tax Act, 2015
25. List of other assets not itemized above STATEMENT OF INCOME S. No Description On the date of On the date of Present the cause of the award/decree action
26. Income from business/profession
(i) Annual turnover / gross receipts
(ii) Gross Profit
(iii) Income Tax
(iv) Net Income Note: If the business is closed/non- active, give the date of closure, assets on the date of closure, present status of the assets and if the assets have been transferred, the particulars of the transfer and consideration received
27. Income from Other Sources
(i) Agricultural Income
(ii) Rent
(iii) Interest on bank deposits and FDRs
(iv) Interest on investments including deposits, NSC, IVP, KVP, Post Office schemes, PPF, loans etc.
(v) Dividends
(vi) Income from machinery, plant or furniture let on hire
(vii) Profit on sale of movable/ immovable assets
(viii) Any other sources of income Signature Not Verified not covered above Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 Note: - If the judgment-debtor is expecting to receive a lump sum payment in the future, give further details including the amount and expected date of receipt of the payment
28. Any other income not covered above OTHER RELEVANT INFORMATION
29. Particulars of the unsatisfied decrees/awards against the judgment-debtor
30. Details of loan/credit facility(s) taken from banks and other financial institutions in the last five years and the present status
31. Name and address of the auditors and date of last audit of accounts DOCUMENTS S. No. Document Description of Document Description Please Tick Attached NA To follow
32. Statement of Account of all bank accounts including current, savings and DEMAT accounts of the judgment-debtor for last three years
33. (i) If the judgment-debtor is a sole proprietorship concern
- Income Tax Return(s) along with the balance sheets, Profit & Loss Account, statement of income and Annexures of the proprietorship firm for last five years
(ii) If the judgment-debtor is a partnership firm - Income Tax Return(s) along with the balance sheets, Profit & Loss Account, statement of income and Annexures of the partnership firm, along with the Schedule showing the distribution of partners' remuneration and share of Signature Not Verified profits/losses of the partnership firm and the copy of Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 the partnership deed, for last five years
(iii) If the judgment-debtor is a Company - Income Tax Return(s) along with the balance sheets, Profit & Loss Account, statement of income and Annexures of the Company for last five years
(iv) If the judgment-debtor in an Association of Persons, HUF, Joint Family business or Trust - Income Tax Return(s) along with the balance sheets, Profit & Loss Account, statement of income and Annexures of the Association of Persons, HUF, Joint Family business or Trust for last five years
(v) GST/ VAT/ Excise/ Sales Tax registration, returns in last five years
(vi) TDS certificates
34. In case of Income from other sources:
(i) Lease Deed(s)/ Rent Agreement(s)/ License Agreement(s) in respect of the rental income
(ii) Interest Certificate in respect of the interest income on deposits and investments
(iii) Dividend Certificates
35. Title deeds of the immovable properties of the judgment-
debtor
36. Documents relating to the debt, shares and other properties of the judgment-debtor recoverable from the Garnishee(s)
37. Documents relating to the properties transferred, alienated or parted with person or agreed to be transferred by the judgment-debtor
38. Documents pertaining to any pre-existing charge on the assets, or orders pertaining to attachment of assets by authorities including but not limited under Prevention of Money Laundering Act, 2002; Income Tax Act, 1961; Benami Transactions (Prohibition) Act, 1988; and Black Money (Undisclosed Foreign Income and Assets)and Imposition of Tax Act, 2015
39. Form 26AS downloaded from the website of Income Tax Department for the last five financial years
40. Forms 3CA/3CB and 3CD, as applicable, pursuant to Signature Not VerifiedSection 44AB of the Income Tax Act, 1961 filed for the last Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 five years
41. Documents relating to the unsatisfied decrees/awards
42. Other relevant documents relating to assets and income Declaration:
1. I/we declare that I/we have made accurate, true and complete disclosure of income and assets of the judgment-debtor from all sources. I/we further declare that the judgment-debtor has no assets, income or financial resources other than those set out in this affidavit.
2. I/we undertake to inform this Court immediately upon any material change in the income and assets of the judgment-debtor or any other information disclosed in this affidavit.
3. I/we hereby declare that the contents of this affidavit have been duly explained to me and have been understood by me.
4. The copies of the documents filed with the affidavit are the true copies of the originals and I/we have self attested the copies after comparing them with their originals.
5. I/we understand that any false statement and misrepresentation in this affidavit may constitute an offence under Section 199 read with Sections 191 and 193 of the Indian Penal Code, 1860 punishable with imprisonment upto seven years and fine, and Section 209 of the Indian Penal Code, 1860 punishable with imprisonment upto two years and fine. I/we have read and understood Sections 191, 193, 199 and 209 of the Indian Penal Code, 1860.
DEPONENT Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03 Verification:
Verified at ____________on this ____ day of ___________ that the contents of the above affidavit relating to the income and assets of the judgment-debtor are true to my/our knowledge, no part of it is false and nothing material has been concealed therefrom. I/we further verify that the copies of the documents filed along with the affidavit are true copies of the originals.
DEPONENT Signature Not Verified Digitally Signed By:NEHA Signing Date:26.04.2023 16:37:03