2016 (3) TMI 65

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....tral Excise Tariff Act, 1985. 2. The appellant acquired first 50% of the equity shares of M/s. Karamchand Appliances Pvt. Ltd. (Unit - II) Baddi on 21.03.2003 and remaining 50% on 12.05.2005. The scheme of amalgamation of the Companies was approved by the Honble Delhi High Court vide Order dated 09.10.2006, stating therein that the effective date of transfer would be from 01.06.2005. Thereafter, the Appellant got the Certificate of registration from the Registrar of Companies under the Companies Act, 1956 on 23.11.2006. The appellant also got itself registered with the Central Excise Department on 24.01.2007, pursuant to the application made by it on 28.12.2006. 3. During the course of verification of the records in the factory of th....

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.... the appellants company was effective from 01.06.2005 in terms of the Hon'ble Delhi High Court Order dated 09.10.2006. Thus, both the companies prior to such effective date i.e. 01.06.2005 were separate entities and as such, there was no scope for transfer of disputed cenvat credit of Rs. 31,12,209/- lying in the cenvat credit account of M/s.Karamchand Appliances Pvt. Ltd. to the appellant, prior to such effective date. Hence, the submission of the ld. Advocate is that since disputed credit has not been utilised by the appellant, the question of its recovery through the impugned proceedings is not in conformity with the statutory provisions. To substantiate his above stand that effective date of transfer would be from 01.06.2005 and not fro....