https://www.taxtmi.com/caselaws?id=329111 The High Court held that the auction purchasers of assets under the SARFAESI Act were not liable for the central excise dues of the defaulting company, as they did not acquire the entire business. The Court found that the Central Excise Department's notices restricting disposal of assets were unlawful, allowing the Department to recover dues by taking possession of finished goods. The judgment emphasized compliance with Supreme Court rulings on successor liability for central excise dues, clarifying the obligations of auction purchasers in such cases. The writ petitions were allowed, with no costs imposed, and pending miscellaneous petitions were disposed of. en-us Mon, 14 Dec 2015 00:00:00 +0530 Sat, 05 Nov 2016 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329111 The High Court held that the auction purchasers of assets under the SARFAESI Act were not liable for the central excise dues of the defaulting company, as they did not acquire the entire business. The Court found that the Central Excise Department's notices restricting disposal of assets were unlawful, allowing the Department to recover dues by taking possession of finished goods. The judgment emphasized compliance with Supreme Court rulings on successor liability for central excise dues, clarifying the obligations of auction purchasers in such cases. The writ petitions were allowed, with no costs imposed, and pending miscellaneous petitions were disposed of. Case-Laws Central Excise Mon, 14 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329111