Pre-deposit Payment by Parent Company is proper compliance: HC

St. John CFS Part Pvt. Ltd. Vs Commissioner of Central Excise (Madras High Court, Madurai Bench) Taking note of the pendency of the merger proceedings, the parent company namely, M/s.St.John Freight System Limited, deposited the money as directed by the conditional order. The Tribunal has refused to accept such deposit as a proper compliance with conditional order passed, because both the companies had separate service tax registration. It now turns out that the parent company, which has deposited a sum of Rs.20,00,000/- (Rupees Twenty Lakhs only) pursuant to the interim order is under liquida...