Home Case Index All Cases Customs Customs + AT Customs - 2014 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (8) TMI 697 - AT - CustomsWaiver of pre deposit - Company declared as sick unit by BFIR - Held that:- against a total outstanding dues of around ₹ 11.72 Crores confirmed against all the Applications a pre-deposit of ₹ 1.14 Crores would meet the ends of justice. As already mentioned above, the said amount of ₹ 1.14 Crores is around 10% of the total dues which in our opinion, would not result in any undue hardship to the Applicant, in the circumstances, when the total revenue of the Applicant is ₹ 4.06 Crores; total assets of ₹ 16.79 Crores and there is overall profit of ₹ 52.82 Lakhs for the financial year ending 31.03.2013. In the result, we direct the Applicant M/s.RSI Private Ltd. to deposit ₹ 1.14 Crores within 8 weeks - Following decision of Sagarika Acoustronics Pvt.Ltd. vs. UOI [2007 (3) TMI 723 - Supreme Court of India] - Partial stay granted.
|