2001 (12) TMI 368 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Kolkata considered an application by M/s. IISCO Ltd. for waiver of pre-deposit of penalty amounting to Rs. 2.5 Crores imposed for clearing excisable goods without sufficient balance in PLA. The tribunal directed the appellants to deposit Rs.10 lakhs within six weeks and scheduled further proceedings for compliance and disposal of the appeal on 18-2-2002.