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Judgment
Learned counsel for judgment debtor has pressed M.A. No. 3 of 2021 filed on 11.1.2021 to seek extension of time for filing affidavits to disclose the
assets of the judgment debtor. Only two weeks' time was granted for that purpose on 17.12.2020. However, considering the difficulties expressed in
the M.A, the judgment debtor is permitted to file the affidavits of discloser during the course of the day or latest by tomorrow. It's copy has already
been served on the learned counsel for decree holder.
The M.A. No. 3 of 2021 is allowed to the aforesaid extent and disposed of.
The decree holder will be at liberty to file its response to the affidavits of disclosure, if required, before the next date.
On behalf of decree holder, it has been pointed out that on 17.12.2020 the requisite actions pursuant to order dated 8.12.2020 were stayed on the
undertaking of the judgment debtor that it be given the opportunity to pay the decretal dues by way of minimum monthly installment of Rs. 10
lakhs. According to learned counsel atleast the first installment should have been paid in December 2020 itself but even till date only approx. Rs. 6.5
lakhs has been paid by the judgment debtor after the order.
On the other hand, learned counsel for judgment debtor submits that atleast a period of one month should be allowed from 17.12.2020 for
payment of the minimum installment amount of Rs. 10 lakhs towards which already Rs. 6.5 lakhs has been paid. The last order accepting the
undertaking of the judgment debtor has unfortunately left it undecided as to the time by which the first installment must be paid and also the time for
subsequent installments. The judgment debtor cannot take advantage of the same. Hence, it is clarified that the first installment of minimum Rs. 10
lakhs has fallen due on 8.1.2021. Hence, the balance amount to complete Rs. 10 lakhs by way of first installment must be paid within three days from
today i.e. by 17.1.2021. The next monthly installment should be paid by 7.2.2021 and so on in each of the succeeding months. In other words, the
monthly installment shall become payable by the end of the 7th day of each month. This arrangement shall be further considered in the light of
assets and liabilities of judgment debtor which may come on record. The current dues must be paid by the judgment debtor without undue delay as
per terms of the agreement and the usual practice.
Post the matter under the same head on 16.2.2021.Â