2014 (2) TMI 5

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.... on record, a unit under name and style of M/s. Shri Purohit Steel Rolling Mills Pvt. Ltd., Bhiwadi was operating from the same land at which the respondent's factory is located. As per certain orders passed by the Revenue, a demand of Rs.21.80 lakhs (inclusive of interest and penalty) was outstanding against M/s. Shri Purohit Steel Rolling Mills Pvt. Ltd. The plant and machinery of the said assessee was taken over by M/s. Rajasthan Financial Corporation and remained in their possession from 30.11.2000 to 19.09.2002. Thereafter, the same was purchased by one M/s. Prabhu Steels (P) Ltd., who operated from there during the period 28.04.2005 to 06.03.2006. The same was again taken over by M/s. Rajasthan Financial Corporation and subsequently c....

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....to the Rajasthan Financial Corporation Bhiwadi but the Memorandum-Cum Notice of Demand to Defaulter was issued on 11.12.2006 for recovery of Rs.1250314/- + interest Rs.928950/- adjacent the appellant. In this regard I find it difficult to conceive that the appellant had any opportunity to participate in the adjudication proceedings and contend against the levy of outstanding dues. Therefore, under these circumstances it would be appropriate that the Revenue should first approach either to Shri Purohit Steel Rolling Pvt. or to M/s. Prabhu Steels Ltd., or to RFC who has received a sum of Rs.34.11 Lacs from the appellant against the sale deed. Therefore, I find that the Memorandum-Cum Notice of Demand to appellant is pre-mature action, as the ....