9911796707
TMI Blog2002 (9) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... for a fresh registration on 27-3-96 and they were issued the same on 8-4-96. It is however observed that they transferred the Modvat credit totally amounting to Rs. 4,16,899.97 from the old unit - M/s. Wadhwa Poly Foam (P) Ltd. to the credit of their own Modvat account on 1-4-96, even prior to the registration of the new unit which is irregular and inadmissible. It is further alleged that they availed the Modvat credit of Rs. 2,27,762.00 during the period from 15-4-96 to 25-4-96 on the invoices which were in the name of the erstwhile unit - M/s. Wadhwa Poly Foam (P) Ltd. which is in violation of the provisions of Rule 57G of Central Excise Rules, 1944. They therefore have been called upon to show cause why the total amount of Modvat credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... longing to the manufacturer to the other site on account of change in the ownership or change of site of the factory resulting from sale, merger, amalgamation or transfer to joint venture with the specific provisions for transfer of liabilities of the old factory, to transfer such un-utilised credit to such transferred, sold, merged or amalgamated factory. It is observed that the transfer of credit under this sub-rule can be allowed only if the stock of input as such or in process is also transferred along with the factory to the new site of the ownership and the inputs on which credit has been availed of and duly accounted for to the satisfaction of the Commissioner. The Original Authority in his order has observed that the party neither o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere was no need for the issue of a fresh certificate and the denial of the Modvat credit to them is not justified. I agree with these findings. The Original Authority in his order has himself recorded that the appellants have submitted before him that M/s. Aditi Foams (P) Ltd. and M/s. Wadhwa Poly Foam (P) Ltd. are one and the same firm and only the name of the Company has been changed with effect from 1-3-96. They submitted a certificate from the Registrar of Companies, Kanpur along with the permission of the Central Government for the change of the name. There are no contrary findings in the order of the Original Authority to these averments of the appellants. Since this is only a case of change of the name of the party with no shifting o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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