Successor In Interest

Successor-in-interest, 'successor-in-interest' the relevant facts to be taken into account in determining this question was explained by Gajendragadkar, J. in the following words: Did the purchaser purchase the whole of the business? Was the business purchased a going concern at the time of the sale transaction? Is the business purchased carried on at the same place as before? Is the business carried on without a substantial break in time? Is the business carried on by the purchaser the same or similar to the business in the hands of the vendor? If there has been break in the continuity of the business, what is the nature of the break and what were the reasons responsible for it? What is the length of the break? Has goodwill been purchased? Is the purchase only of some parts and the purchaser having purchased the said parts purchased some other new parts and started a business of his own which is not the same as the old business but is similar to it? These and all other relevant factors have to be borne in mined in deciding the question as to whether the purchaser can be said to be successor-in-interest of the vendor for the purpose of industrial adjudication. It is hardly necessary to emphasise in this connection that though illustrations are relevant, it would be unreasonable to exaggerate the importance of any one of these facts or to adopt the inflexible rule that the presence or absence of any of them is decisive of the matter one way or the other. The decision of the question must ultimately depend upon the evaluation of all the relevant factors and it cannot be reached by treating any one of them as of overriding or conclusive significance, Central Inland Water Transport Corporation Ltd. v. Their Workmen, AIR 1975 SC 1639: (1975) 4 SCC 348: (1975) Supp SCR 443.

One who follows another in ownership or control of property, Black's Law Dictionary, 7th Edn., p. 1446