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TMI Blog1996 (2) TMI 146X X X X Extracts X X X X X X X X Extracts X X X X ..... for the respondents. 2.Both the writ petitions have been filed against the order of the 1st respondent dated 22-9-1995 directing the petitioner M/s. Campion Plastics to pre-deposit a sum of Rs. 3.50 lakhs on or before 29-11-1995 to quash the same and to direct the 1st respondent to hear the appeals on merits without pre-deposit. 3.Against the order of the 2nd respondent confirming the demand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and advancing of money to each other would not be sufficient to club clearances of two units unless the second unit is proved to be a dummy unit meaning one which is not physically existant in terms of investment of capital, machinery and labour. Therefore, according to Mr. P.S. Raman, not only is the petitioner in W.P. No. 16342 of 1995 incapable of being classified as a dummy unit since it has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dry debtors and the amount of loan and advances amounting to over Rs. one crore, the petitioners were directed to pre-deposit a sum of Rs. 350/- lakhs without taking note of the fact that the companies had a net loss of Rs. 44.22 lakhs and a cash loss of Rs. 42.21 lakhs and that the accumulated loss of Rs. 53.54 lakhs on an equity capital of Rs. 5.36 lakhs gives it a negative net current asset wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on limit. But if a firm consisting of certain partners say, A, B and C has got more than one factor, all these factors should of course be combined. Limited companies whether public or private are separate entities distinct from shareholders composing it. Hence, each limited company is a manufacturer by itself and will be entitled to a separate exemption limit." 7.The above will squarely apply, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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