Firm’s MD gets jail for not filing asset details

A managing director of a company has been awarded three months civil imprisonment by the Delhi high court for the firm’s failure to file details of its assets in a matter pertaining to enforcement of an arbitral award. Justice JR Midha said it was a fit case for <g data-gr-id="7">exercise</g> of powers under the Code of Civil Procedure, which provides for detention in jail for not filing the affidavit as stipulated under the law. “In the facts and circumstances of the case, in exercise of power under the Code of Civil Procedure, the MD of judgment debtor (V2 Retail) be detained in civil prison for a period of three months,” the court said.