ALOKE CHAKRABARTI, J. - (1.) egnaMills Co. Ltd. had two jute mills known as Megna North Mill and Megna South Mill at Jagatddal, West Bengal which were lying closed for a long time. By an agreement between said Megna Mills Co. Ltd. and the petitioner No. 1, approved by this Court, the said Megna Mills Co. Ltd. transferred, sold and conveyed its South Mill in favour of the petitioner No. 1 for a consideration and the petitioner agreed to make payment of all liabilities of Megna Mills Co. Ltd. amounting to Rs. 650 lakhs. The petitioners started running the said mill under a scheme approved by this Court which came into effect from March 1, 1987.
(2.) An exemption had been granted under Section 17(1) of the Employees Provident Funds and Miscellaneous Provisions Act, 1952 to the said company on October 17, 1957.
(3.) In the year 1999 the terms and conditions of exemption originally granted to the said establishment under Section 17(1) of the said Act were sought to be revised and accordingly a notice dated April 23, 1999 was issued proposing introduction of revised terms and conditions for grant of exemption to which the petitioners were to file their objection within 30 days. The petitioners filed their objection by letter dated May 21, 1999. The respondents issued show-cause notice dated December 27, 1999 to the petitioners calling upon them to show cause within 15 days of the receipt of the said notice as to why (a) exemption granted to the establishment be not recommended for cancellation to the appropriate authority for violations mentioned in the said notice and (b) prosecution case under Section 14 be not launched against the establishment and responsible (sic) persons.;