J. N. PATEL, J. : - The petitioner has challenged the legality, validity and propriety of the order dated 21 - 10 - 1995 passed by the respondent No.2, i.e. Annexure II and IV and the proceedings initiated by respondent No.2 as per Annexures . II and IV by passing order dated 21 - 10 - 1995 and 7 - 12 - 1995 respectively calling upon the petitioner to clear off the arrears of E.S.I. dues of M/s J. J. Cold Tread, Nagpur, petitioner having purchased land and building of the above employer from Maharashtra State Financial Corporation on the ground that the said transfer is a deemed transfer as per the provisions contained in section 29(2) of State Financial Corporation Act, 1951 for the purpose of section 93 - A of the E.S.I. Act as amended, otherwise coercive action was contemplated against him in accordance with the provisions contained in section 45 - C to 45 - 1 of E.S.I. Act, 1948 as amended and II Schedule to the Income - Tax Act read with section 45 - H of ESI Act, 1948. It is the case of the petitioner that it is a registered firm and deals with the business of manufacturing hydraulic pneumatic seals and as they were looking out for premises f