Supreme Court · 2006 INSC 15 · Decided 5 January 2006
State of Karnataka and ANR. v. Shreyas Papers PVT. LTD. and Ors
- Court
- Supreme Court of India
- Citation
- 2006 INSC 15 · [2006] 1 S.C.R. 235
- Case number
- CIVIL APPEAL No. 3170/2000
- Decided
- 5 January 2006
- Bench
- RUMA PAL, B.N. SRIKRISHNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 136; Transfer of Property Act
Headnote
B Karnataka Sales Tax Act, 1957: Section 15-Purchaser-transferee of assets of defaulting Company­ transferor, if liable for sales tax arrears of defaulting Company-Held: Section C 15 (I) operates only when there is complete transfer of ownership of business­ Defau/ting Company not sold as thus, section 15 not attracted and transferee not liable for transferor's sales tax liabilities-State Financial Corporation Act, 1951-Section 29. D Section 13 (2)(i)-Creation of charge over properties of defaulter­ Charge, enforcement of, against purchaser-transferee of property-Held:
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