What a lucky guy! You have uncovered a very hard to find collectible, a Rockwell Model 10 Variable Speed Drill Press!
See this post:
Here are two hints for @anjp
* That small empty hole in the front is for the chuck key. Insert the chuck key in the hole to unlock the red switch. If you lost the chuck key, try a drill bit that matches the hole. My chuck key kept falling out on the floor for decades. It is a miracle that I never lost it, and it has moved with me through multiple countries. I was too stupid to add the blue tape until last year.
* Change speeds only when the drill press is running.
When my friends come over and they see it, they often make offers for it. Usually the offers are to help me carry it to the trash bin. :-)
In truth, it has served me very well since I got it in 1979 (maybe 1980 or 1981). It has many drawbacks, but I have asked a lot of it and it has always come through.
Photos / Attachment:
* Rockwell Model 10 Drill Press Manufacturer's Model Label.
* Rockwell Model 10 Drill Press Front Label, with original chuck key.
* Rockwell Delta 31-210 Model 10 Drill Press Parts List (PDF file).