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2014 (4) TMI 760 - AT - Central ExciseModification of Stay Order - Assessee contends that Bench has passed a non-speaking order and has not considered the submissions made by the applicant in the memo of appeal as well as during the course of personal hearing - Held that:- while coming to a conclusion of directing the appellant to pre-deposit an amount of Rs.3.5 crores, prima facie, we found that there was note book and other documents which indicated movement of semi-finished goods without payment of duty and statement of transporters, director and employee. On a specific query from the Bench, Shri Kanti Mohan Mishra submitted that the statement given by the Director and employee are not retracted. He also submits that they are not disputing the recovery of notebook but the entries made in the note book are being disputed - After going through the balance sheet annexed with the application for modification of our Stay Order, we find that the balance sheet, though shows a loss, it also indicate that the appellant has given un-secured loan and considered to be good to others to the tune of Rs.32.52 crores, which definitely if recovered, can help them to deposit an amount of Rs.3.5 crores, which is ordered to be pre-deposited - appellant has not made out a case for any modification of our Stay Order which directed them to deposit an amount of Rs.3.5 crores - Modification denied.
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