Den Network Ltd vs M/s Mq Networks Private Limited

Heard learned counsel for the decree holder and learned counsel for the judgment debtor.

Even in the light of facts disclosed in the supplementary affidavit of the respondent / judgment debtor filed on 6.8.2021, the Tribunal has been left

clueless whether the judgment debtor has taken a correct stand or not in the initial affidavit that it has no assets movable or immovable or there is

suppression / distortion of facts. The documents such as Balance-sheets, P&L Accounts, Statement of Income and Expenditure of the company

for the last five years were required to be disclosed, but in the original affidavit of disclosure filed in January 2021, against item no. 57 the stand is that

this obligation is not applicable to the judgment debtor company. How and why has not been explained at all. In column 21 of the same affidavit,

the details of immovable properties were required to be disclosed on three different dates - 1. when the decree holder had a cause of action, 2. when

the decree /award was made and lastly in the Present. Against all the three dates, the word 'nil' has been used.

Even if during the last five years accounts or returns have not been maintained or filed even then to support its stand the judgment debtor

ought to have filed earlier five years of accounts and returns etc. with a statement on affidavit that thereafter it has not maintained the accounts

etc. and nothing have been filed with the statutory authorities.

Prima-facie, this Tribunal gets the impression that on every date some directions are being sought by the judgment debtor and it is not willing to make

a clean disclosure on its own. On the next date, it must come forward with full and clean disclosure on its own otherwise it will be presumed that

it is avoiding to comply with the orders of this Tribunal and is not making truthful disclosure. The documents must be filed within three weeks.

Mr. Srivastava learned counsel for decree holder has submitted that there are material suppressions or mis-statements. He is at liberty to file a

comparative chart with the help of list of properties mentioned in the OA or other documents for substantiating his aforesaid claim and bring it on

record after sharing the same with the other side.

Post the matter under the same head on 11.10.2021.