Question ID :
WHETHER MRP STICKERS ON IMPORTED GOODS TO BE CHANGED ON COMPANY NAME CHANGE
Please advise in the following case:
Company X is changing its name to Company Y on October 5th 2018. It imports raw materials, spares, accessories and FG (which require MRP declaration) from foreign countries and trades in India. Stock imported prior to above said date and few in-transit items received after above said date are expected to have name of Company X as importer's name. Whether the Company has to remove the MRP sticker and paste new one with new company name on sale of such items ? (Company does not want to go through MRP sticker changing process as 4,00,000 plus packages are involved)
Also, please suggest if there is any penalty for contravention. Please quote specific provisions of the Act or decided case laws.
RAVITEJ Y H
Aug 29, 2018
CORPORATE & OTHER LAWS