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2015 (1) TMI 134 - ALLAHABAD HIGH COURTValidity of requirement to deposit 10% of total value of seized goods in cash and 30% by way of bank guarantee – Seizure of truck on account of non-furnishing of documents – Held that:- After some argument, applicant as well as revenue agreed that the applicant shall furnish security to the extent of ₹ 2 lakhs only in cash and the remaining security of 30% in the form of personal guarantee of the proprietor of the applicant firm – thus, the order of the Tribunal dated 11.12.2014 is modified and it is provided that the goods shall be released in favour of the applicant on furnishing cash security of ₹ 2 lakhs only in lump sum and the security for the remaining amount of 30% by way of personal guarantee of the proprietor of the applicant firm – Decided partly in favour of petitioner.
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