- (1.) We have heard Shri Subham Agrawal for the petitioner. Shri S.P. Kesarwani, Additional Chief Standing Counsel appears for the State respondents.
(2.) M/s P.J. Steels Pvt. Limited, Meerut Road, Muzaffarnagar set up an industrial unit with the financial assistance of U.P. Financial Corporation (UPFC). On the defaults committed by the company in repayment, the industrial unit was taken over by the UPFC under Section 29 of the State Financial Corporation Act and was put to sale. M/s Sarju Steels Pvt. Limited purchased the unit and took over physical possession from UPFC. The land & building was transferred by UPFC to M/s Sarju Steels Pvt. Ltd by a transfer deed dated 8.3.2002. By a separate deed the plant and machinery of the unit was transferred to the purchaser on 14.3.2002. The land & building as well as plant & machinery were transferred by UPFC free from all encumbrances and liability.
(3.) By a special resolution dated 16.2.2002 the Board of Directors of M/s Sarju Steels Pvt. Limited changed the name of the company to M/s Rana Girders (P) Limited-the petitioner. The Registrar of Companies, Kanpur issued a certificate of incorporation, to the company, consequent upon change of its name on 28.3.2002 under Section 23 (1) of the Companies Act, 1956. M/s Rana Girders (P) Limited was registered under the Central Excise (No.2) Rules, 2001, bearing registration No. AACCR0898QXN001.;