2003 (11) TMI 240

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....ellant, a new company by the name of M/s. Moraya Global (P) Ltd. could avail the transfer of credit made by issue of invoices by another company i.e. M/s. FMC Aroma (P) Ltd. on and after 1-11-1995, when the former company had taken over assets of the later company. 2. (a) The appellants were issued a show cause disallowing the credit and proposing recovery under Rule 57-I since the credit was o....

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.... to be registered under Rule 174. As per the rules on registration, once a registration is obtained, no renewal is required until surrender. Surrender of registration would be only on cessation of manufacture. Resulting in the person not being a manufacturer thereafter. Consequently invoices issued on 1-11-1995 and 15-11-1995 by M/s. FMC Aroma (P) Ltd., who have surrendered the registration on 31-....