AJIT SARIN vs CITICORP FINANCE (INDIA) LIMITED & ORS.

Judgment text excerpt

$~38 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 30.04.2025 + EFA(OS) 4/2025 AJIT SARIN .....Appellant Through: Mr.Lalit Gupta, Mr.Anmol Ghai & Ms.Ishita Nautiyal, Advs versus CITICORP FINANCE (INDIA) LIMITED & ORS. .....Respondents Through: Mr.Lovkesh Sawhney, Sr. Adv. with Mr.Rohit Kumar, Adv for JD-2 CORAM: HON'BLE MR. JUSTICE NAVIN CHAWLA HON'BLE MS. JUSTICE RENU BHATNAGAR NAVIN CHAWLA, J. (ORAL) CM APPL. 25566/2025 (Exemption) 1. Allowed, subject to all just exceptions. EFA(OS) 4/2025 & CM APPL. 25565/2025 2. This appeal has been filed challenging the Order dated 27.03.2025 passed by the learned Single Judge of this Court in Execution Petition, being EX.P. 5/2008, inter alia, directing the appellant to file an affidavit of the latest list of unencumbered assets in terms of Order XXI Rule 41(2) read with Form No. 16A, Appendix E Signature Not Verified Digitally Signed EFA(OS) 4/2025 Page 1 of 5 By:RENUKA NEGI Signing Date:06.05.2025 18:33:14 of the Code of Civil Procedure, 1908. 3. The learned counsel for the appellant submits that the Decree Holder has itself filed a list of shares held by the Judgment Debtor No.2, valued at more than Rs.133 crores. He submits that for the said shares, the learned Single Judge, by the Impugned Order, has also asked the Ministry of Corporate Affairs to file an affidavit indicating whether the Judgment Debtor No.2 owns the aforesaid shares in the named entities. He submits that, therefore, there was no occasion for the learned Single Judge to have also directed the appellant to file the list of assets. 4. He further submits that the Execution Petition was dismissed for non-prosecution on 07.12.2016, restored on 01.08.2017, and eventually disposed of on 03.03.2020 on account of a settlement having being arrived at betw