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
8 paragraphs · 161 wordsHeard learned counsel for the petitioner and learned counsel for the respondent. On28.7.2020 four weeks' time was granted to the respondent on its
prayer to pay the admitted amount of Rs. 10 Lakhs or file a reply disclosing all its movable and immovable assets. Today, learned counsel for the
petitioner submits that only Rs. 5 Lakhs has been paid after the last date and, therefore, coercive action may be taken against the respondent.
On the other hand, learned counsel for the respondent prays to grant two more days’ time for transferring the balance amount of Rs. 5 lakhs in
the account of the petitioner through RTGS. That opportunity is granted. The Bank account details and details of other assets should be made
available to this Tribunal within two days if the money is not paid by the respondent. Non-compliance will be treated as deliberate and penalty may
be imposed for that also.
Post the matted under the same head on 16.4.2021.Â