NATURAL FILLERS PRIVATE LIMITED Vs. UNION OF INDIA, THROUGH THE COMMISSIONER OF CENTRAL EXCISE JAIPUR AND OTHERS

JUDGEMENT

(1.) Land, building and machinery of M/s. Unipex Bio-chem Private Limited was mortgaged/hypothecated with the Rajasthan Financial Corporation. The Corporation was thus a secured creditor.

(2.) The credit being in default the Corporation proceeded to exercise its statutory right under the State Financial Corporation Act. The secured assets were put to auction. The petitioner being the highest bidder and the bid being confirmed, bid amount being paid, went into possession of the land, building and machinery of M/s. Unipex Bio-Chem Private Limited.

(3.) Challenge is to a demand raised by the Excise Department on 27th August, 2007 concerning recovery of Central excise dues from M/s. Unipex Electrochem Private Limited.