2015 (2) TMI 607

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....Nagarjuna Babu For the Respondent : Sri Gopalakrishna Gokahley ORDER (Per the Honble Sri Justice L.Narasimha Reddy)   The 3rd respondent herein i.e. Citi Union Bank Limited, through its Rani Gunj Branch, extended loan to an industry, by name, M/s. J.T. Alloys (P) Limited. The industry, however, became sick and it was unable to repay the loan. Proceedings were initiated against the....

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....h that, respondents 1 and 2 proceeded to attach the property. Hence, this writ petition. Heard Sri D.V.Nagarjuna Babu, learned counsel for the petitioner and Sri Gopalakrishna Gokhaley, learned counsel for respondents 1 and 2. It may be true that the industry, which fell sick, was in arrears of excise duty and respondents 1 and 2 were entitled to take steps for recovery of the same. In a giv....

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....in favour of the petitioner became the absolute and the property vested in them free from any encumbrances, that respondents 1 and 2 initiated proceedings for recovery of arrears of duty and sought to attach the property. The question as to whether the purchaser of a property from an entrepreneur or industry would be liable to pay the arrears of excise duty, electricity charges and the like; is....