JUDGMENT :

Apurba Sinha Ray, J.

1. The Execution Case no. 431 of 2022 was initiated to implement a consent decree passed on 18.05.2018 in connection with C.S. No. 201 of 2015. The present application being IA No. GA 1 of 2024 has been filed by the decree-holder Sushant Agarwal (HUF) being represented by its Karta Sushant Agarwal alleging, inter alia, that the then director of Nav Technology Pvt. Ltd., Anmol Agarwal, the judgement-debtor no. 1, transferred the office space of Nav Technology Pvt. Ltd. 113, Park Street, Kolkata to the judgement-debtor no.2 Manju Agarwal at a consideration of Rs.1001/- when the valuation of the property is more than 2 crores. As the Nav Technology Pvt. Ltd. has been shown to be the transferor of the said property, the entire tax liability of the transaction would fall upon the said company, which has now become the property of the decree holder by virtue of the said consent decree, upon Section 50-C of the Income Tax Act, 1961.

2. During hearing of the execution proceeding the learned counsel of the judgement debtor no. 2 had undertaken before the court that his client would comply with all the requisite obligations under the consent decree and he has fur