Apollo Tubes Case: Delhi HC Orders Judgment Debtors to File Asset Details or Appear in Person
Apollo Tubes Matter | Delhi HC Order on Asset Disclosure in Execution Case
The Delhi High Court has recently held that if the judgment debtors fail to submit their mandatory asset-disclosure affidavits, they will be required to personally appear before the Court on the next date of hearing.
The direction came from Justice Amit Bansal in the execution proceedings initiated by Shiva Texyarn Ltd. against Official Liquidator of M/s Apollo Tubes and Steel Industries Ltd. & Ors. under Order XXI of the Code of Civil Procedure (CPC).
The proceedings stem from a decree passed by the Commercial Court in Chennai in November 2023, which directed the judgment debtors to repay Rs 64.73 lakh along with interest and legal costs. Since the assets and parties are based in Delhi, the decree was transferred to the Delhi High Court for execution in July 2024. The Court later allowed the execution to continue even though one of the judgment debtors was under liquidation, and time was sought to place the asset status before the Court.
As the execution progressed, the Court had directed on 19 March 2025 that each judgment debtor file a separate affidavit detailing all movable and immovable assets, specifically distinguishing inherited assets from self-acquired ones. When there was still no compliance, the Court repeated the direction on 25 September 2025 and granted four more weeks. A confidentiality mechanism was also agreed upon to protect sensitive financial disclosures.
When the matter came up again on 20 November 2025, counsel for the judgment debtors sought one final extension. The Court allowed three more weeks and issued a clear warning, stating:
“In the event these affidavits are not filed, the judgment debtors who fail to file the said affidavits shall be physically present in Court on the next date of hearing.”
The matter is now listed for 24 February 2026, when the Court will review compliance with its directions.
For Decree Holder: Mr. Satvik Varma, Sr. Advocate with Mr. Nakul Gandhi, Mr. Akshay Nagarajan, Mr. Mujeeb, Ms. Tanish Gupta, Ms. Siddhi Sahoo, Mr. Avi Kaushik, Mr. Shantanu Parmar and Mr. Balram, Advocates.
For Judgement Debtors: Mr. Sanjoy Ghosh, Sr. Advocate with Mr. Avinash Lakhanpal, Mr. Ashish Bhardwaj, Mr. Rahul Singh and Mr. Rohan Mandal, Advocates.
Case Title: SHIVA TEXYARN LTD versus OFFICIAL LIQUIDATOR OF M/S APOLLO TUBES AND STEEL INDUSTRIES LTD & ORS.
Bench: Justice Amit Bansal
Order Date: 20 November 2025
T