Judgment debtors in execution proceedings are mandatorily required to disclose comprehensive asset details, including those held by family members and interest in corporate entities, to facilitate the effective realization of a decree.

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O R D E R

% 09.01.2026

1. It is pointed out to this Court that the petition under Section 37 of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) being FAO (OS) (COMM) 10/2023 and FAO (OS) (COMM) 27/2023 are pending before the Division Bench of this Court, and are next listed for hearing on 02nd February, 2026.

2. Learned counsel for the petitioner/Decree Holder draws the attention of this Court to the order dated 22nd August, 2024, which reads as under:

“1. Mr. Agrawal, learned counsel for the decree-holder has drawn my attention to the order dated 16.08.2021, wherein in paragraph 6 it was observed as under:-

“In the circumstances, the contention that respondent no.1 is alienating his assets cannot be ignored. Respondent no. 1 is directed to file an affidavit clearly indicating his entire assets held by him on the date when the notice of arbitration was issued under Section 21 of A&C Act, which Mr. Agrawal states was issued on 09.10.2017. Respondent no. l shall also disclose whether he has transferred any assets to any of his family members or any associates after the date of notice under Section 21 of the A&C Act and shall also disclose the details of said assets. Let the said affidavit be filed within a period of two weeks from today.”

2. The same was reiterated against judgment-debtor No. 4 on 09.09.2021, and again against both judgment-debtor Nos. 1 and 4 on 11.04.2023. Despite the same, the affidavits as directed have not been filed.

3. Mr. Kapoor, learned counsel for the judgment debtor No. 4 states that the affidavit has been filed; however, as of now he is unable to point out the same. He seeks and is granted two weeks to prepare a compilation to show compliance of the orders.

4. The affidavit of details of immovable properties of the judgment debtor No. 1 has not been filed. Let the judgment debtor Nos. 1 and 4 remain present in Court on the next date of hearing.

5. List on 25.09.2024.”

3. By referring to the aforesaid order, learned counsel for the petitioner/Decree Holder submits that though there have been directions by this Court to the Judgment Debtor nos. 1 and 4, to file their affidavit of assets, however, the said affidavit of assets is yet to be filed.

4. In response, learned counsel for the Judgment Debtor no. 1 draws the attention of this Court to the affidavit dated 29th July, 2023, filed on behalf of Judgment Debtor No. 1-Mr. Vidur Bhardwaj, wherein, position of assets of Judgment Debtor no. 1 has been given.

5. Perusal of the said affidavit shows that as against immovable property, the Judgment Debtor no. 1 has submitted that he does not own any immovable assets.

6. On a pointed query by this Court, learned counsel for Judgment Debtor no. 1, on instruction, submits that Judgment Debtor no. 1 stays in the rented property of his brother.

7. Accordingly, Judgment Debtor no. 1 is directed to file an affidavit of assets of immovable properties of his immediate family members.

8. Let the needful be done within a period of four weeks, from today.

9. Likewise, learned counsel for Judgment Debtor no. 4 submits that affidavit of assets has been filed qua only movable assets and not immovable assets, as Judgment Debtor no. 4 also does not own any immovable assets.

10. Accordingly, it is directed that Judgment Debtor no. 4 shall file a list of assets of immovable properties of his immediate family members.

11. In the affidavit, both Judgment Debtor nos. 1 and 4 shall also file details with respect to their share holdings in different companies, including, investments made by them.

12. Let the needful