2017 (10) TMI 835

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....falls for consideration in this Appeal is regarding the transfer of cenvat credit lying unutilised to the Appellant's credit on change of ownership/shareholding pattern and whether permission is required from the jurisdictional authority and is it mandatory for availment of Cenvat credit? 3. The brief facts that arise for consideration are that the Appellant herein has purchased a running unit by change in shareholding pattern of the said running unit. The Appellant had applied for amendment to the Central Excise for registration of Multi Pack System Pvt. Ltd. (unit V), Shed No.357, 358, 360, Sankarda Bhadarva Road, Rania, Savli, Vadodara on account of change in pattern of shareholding. It is seen that Omri Investment Co. Ltd., Japan....

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....as undergone only a change in the name. It is also on record that the manufacturing activity under Central Excise registration number of Multi Pack System was at the very same place and subsequently, continued in the same place in the name of the Appellant herein. Both the lower authorities have interpreted the provision of Rule 10 of the Cenvat Credit Rules to deny the benefit of Cenvat credit in the case of change of ownership. The said rule needs to be as under: " Rule 10. Transfer of CENVAT credit (1) If a manufacturer of the final products shifts his factory to another site or the factory is transferred on account of change in ownership or on account of 'sale', merger, 'amalgamation', lease or transfer of the f....