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HomeNewsNational NewsKamyab Television’s assets face attachment
Monday, 17 February 2020 05:53

Kamyab Television’s assets face attachment

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Kamyab Television faces imminent threat as the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has ordered attaching Kamyab Television’s assets till further orders. 

The case was between the Union of India‘s (UOI) and Kamyab Television for the recovery of dues.

TDSAT said: “Till further orders, the assets of the respondent shall remain attached. It shall not withdraw any money from the Bank accounts except for a payment to the decree-holder. Post the matter under the same head on 20.3.2020.”

TDSAT, on 3rd September 2019, had directed the broadcaster to pay Rs 3.98 crore to UOI. However, the broadcaster has failed to comply with that order.

TDSAT has allowed UOI’s prayers to direct the respondent/Judgement Debtor (Kamyab Television) to disclose the assets including moveable and immoveable property, and direct the attachment of the registered office of the Respondent/Judgement Debtor in order to realise the decretal amount of Rs. 3,98,57,826/- as directed by the tribunal in favour of the Petitioner/Decree Holder (UOI).

TDSAT has granted two weeks’ time to Kamyab Television for filing a reply or even for making part payments towards the decree under execution. A fresh vakalatnama should be filed with the reply. It noted that the broadcaster was given two months’ time to pay the decretal amount of Rs. 3.98 crore, however, nothing has been paid so far.

The order is by way of interim arrangement subject to modification if required in the light of reply of the respondent. So far as direction to disclose the assets of the broadcaster is concerned, the tribunal stated that disclosure should be with complete details of the address and location of the assets so that, if required, their valuation can be re-assessed.

TDSAT also ordered that the bank accounts should also be given with full particulars of the concerned Bank and nature of the account along with balance available in the account. For the purpose of complete disclosure, the broadcaster be guided by provisions or Order XXI Rule -41 and in Form 16A of Appendix E of the CPC.

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