1999 (8) TMI 829 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai upheld the Commissioner's order for confiscation of ship M.V. Palanga, but allowed redemption on payment of Rs. 20 lakhs. The applicant had removed ship parts without permission, but claimed they were spares. The Tribunal limited relief to securing the redemption fine with a bank guarantee for breaking the ship, which would generate revenue from scrap. The applicant must produce the bank guarantee within two months.