JUDGMENT :

(By Video-Conference on account of COVID-2019)

EX.APPL.(OS) 1254/2021 (under Order XXI, Rule 23(2), read with Section 141 & 151 of CPC, 1908)

1. This is an application preferred by the respondent/ judgment / award debtors in OMP (ENF)(COMM) 127/2021, which has been filed by the beneficiaries of an arbitral award, dated 23rd November, 2019, casted consequent to arbitral proceedings between the award holders and the award debtors, who would be referred to, for convenience, as the petitioners and the respondents respectively.

2. Notice was issued in the present execution petition, by this Court, on 16th August, 2021. On the said date, the respondents were also directed to file affidavits of their assets on the date of cause of action, the date of award, as well as on that date, i.e. 16th August, 2021 in Form 16A, Appendix E under Order XXI, Rule 41(2) of the Code of Civil Procedure, 1908, (CPC), before the next date of hearing.

3. Subsequently, EA(OS) 1037/2021 was filed by the respondents, seeking modification of the order dated 16th August, 2021. In the said application,