Auxilo Finserve Pvt. Ltd. v. Khusbu Sandeep Panchal

Bombay HC25 Mar 2026IA/7305/2025

Case brief

AI extract

What is this about?

Execution of arbitral award; judgment debtor asset-disclosure affidavit on oath; Order 21 Rule 41 Code of Civil Procedure 1908; disclosure of bank accounts, debts and receivables payable by third parties; furnishing of Income Tax Returns, Balance Sheets and profit and loss accounts; unsatisfied decree/award over 30 days; interim application in aid of execution; Auxilo Finserve Pvt. Ltd.; Khusbu Sandeep Panchal & Ors.; High Court of Judicature at Bombay; Abhay Ahuja J.; IA 7305 of 2025 in EXA 2051 of 2025.

What did the court decide?

Respondents/Judgment Debtors directed to make disclosures on oath in terms of prayer Clauses (b) and (f) within four weeks; copy of the order to be served upon the Respondents with an affidavit of service; matter listed on 25th March, 2026. ¶¶20

Auxilo Finserve Pvt. Ltd. vs Khusbu Sandeep Panchal — Bombay HC (2026) — LawSathi Research

What the court decided

AI extract

Outcome

¶¶20

Issue for consideration

Whether the Judgment Debtors should be directed to file comprehensive affidavits on oath disclosing their movable and immovable assets, bank accounts (with account numbers, bank, branch and amounts lying therein), and debts/receivables payable by third parties with precise addresses (prayer clause (b)). +1 more

¶¶13

Court's answer

Disclosures to be made on oath by the Respondents in terms of prayer Clauses (b) and (f) within a period of four weeks.

¶¶20

Ratio / Principle

Copy of the order to be served upon the Respondents and an appropriate affidavit of service to be filed.

¶¶21

Detailed headnote1 paragraphs

Bombay High Court (Ordinary Original Civil Jurisdiction), Abhay Ahuja J., 19 January 2026 — Interim Application No. 7305 of 2025 in Execution Application No. 2051 of 2025 (Auxilo Finserve Pvt. Ltd. v. Khusbu Sandeep Panchal & Ors.). The IA was filed in aid of execution of an arbitral award dated 4th June 2025 (internal ¶1); despite service, no payments had been received from the Respondents and they were unrepresented at the call. Granting the Applicant's request, the Court directed the Respondents/Judgment Debtors to make disclosures on oath within four weeks in terms of prayer clause (b) — comprehensive affidavits disclosing movable and immovable assets, all bank accounts (with account numbers, bank, branch and balances) and debts/receivables payable by third parties with precise addresses, invoking Order 21 Rule 41 of the Code of Civil Procedure, 1908 — and prayer clause (f) — Income Tax Returns for the last five years together with Balance Sheets and profit and loss accounts of their business. Copy of the order to be served with an affidavit of service; matter listed on 25th March 2026. Note: prayer clause (b) recites the award date as 04.06.2024, inconsistent with the 4th June 2025 date in the order body; both recorded as printed.

¶1

IA 7305-25 in EXA 2051-25.doc

¶2

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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INTERIM APPLICATION NO. 7305 OF 2025 IN

¶4

EXECUTION APPLICATION NO. 2051 OF 2025

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Auxilo Finserve Pvt. Ltd. ...Applicant V/s. Khusbu Sandeep Panchal & Ors. ...Respondents

¶6

Ms. Simran K. Raj i/b Tikshta Modi for the Applicant.

¶7

CORAM : ABHAY AHUJA, J. DATE : 19^th JANUARY, 2026

¶8

P.C. :

¶9

This Interim Application has been filed in aid of execution of the award dated 4^th June, 2025.

¶10

When the matter is called out, Ms. Raj, learned Counsel appears

¶11

for the Applicant and submits that despite service to the Respondents, no payments have been received nor there is any representation today and that this Court may direct disclosures in terms of prayer Clauses

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(b) and (f), which read thus:-

¶13

“(b) that this Hon’ble Court be pleased to direct the Judgment Debtors to jointly and or severally to file their comprehensive affidavits disclosing on oath the assets both movable and immovable held/owned by them, including details of all Bank accounts (with account numbers, Bank, Branch etc.) and all the amounts lying in the Bank accounts and also all debts and receivables payable by third parties to the Judgment Debtors with their precise and exact addresses within a period of 2

¶14

Digitally signed by NIKITA NIKITA YOGESH YOGESH GADGIL GADGIL Date: 2026.01.19 19:23:36 +0530

¶15

Nikita Gadgil

¶16

1/2

¶17

IA 7305-25 in EXA 2051-25.doc

¶18

weeks from the date of the order or within such time as this Hon’ble may deemed fit by this Hon’ble Court as provided under Order 21 Rule 41 of the Code of Civil Procedure, 1908 since the decree/Award dated 04.06.2024 passed by the Learned Arbitral Tribunal has remained unsatisfied for more than 30 days from the date of its passing.

¶19

(f) that pending the hearing and final disposal of the Execution proceedings, this Hon’ble Court be pleased to order and direct the respondents/Judgment Debtors to furnish his/their Income Tax Returns for last five years along with the Balance Sheets and profit and loss accounts of their business.”

¶20

Let disclosures be made on oath by the Respondents in terms of prayer Clauses (b) and (f) within a period of four weeks.

¶21

Let copy of this order be served upon the Respondents and an appropriate affidavit of service be filed.

¶22

List on 25^th March, 2026.

¶23

(ABHAY AHUJA, J.)

¶24

Nikita Gadgil

¶25

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Auxilo Finserve Pvt. Ltd. v. Khusbu Sandeep Panchal

Case brief

What is this about?

What did the court decide?

Auxilo Finserve Pvt. Ltd. v. Khusbu Sandeep Panchal

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

Issues for consideration

Statutes considered

Procedural history

Parties & counsel

Coram

Case details

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