AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
15 paragraphs · 328 wordsHeard learned senior counsel for the petitioner and learned counsel for the respondent.
Both sides have dwelt on the issue whether payment of Rs. 15 lakhs per month as per offer of the respondent is reasonable and good offer to clear
the liability of Rs. 9.83 crores for the period till November 2020. Earlier respondent had annexed with their submissions of 17th December 2021 a
cash flow statement for the period April 2019 to March 2020. After noticing the same, this Tribunal indicated in the last order that respondent should
disclose the annual accounts at least of the previous year to get an idea as to the receipts from the relevant business which may be relevant for the
issue under consideration. In response the respondent have brought on record a copy of statement of Income and Expenditure for financial year 2019-
2020. This is quite similar to the earlier document so far expenditures for the relevant months are concerned but the receipts appear to have
diminished on account of omissions or exclusions of certain items.
In order to leave no scope for any mistrust or doubt, the respondent should bring before this Tribunal the audited Balance Sheet for the year 2020 -
2021 including Profit and Loss with all annexures submitted for that year. It will also be open for authorised representative of the petitioner to
approach the Head of Accounts of the respondent in order to have a better understanding of the entries in the accounts. Two weeks’ time is
granted to bring on record the said materials and for the petitioner to obtain the information from the Head of Accounts of the respondent during the
same time. It will be open for the petitioner to file appropriate response / affidavit / application on the basis of accounts made available or on the basis
of any other relevant materials. The same shall be considered on the next date.
Post the matter under the same head on 25.2.2022.