Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2008 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (5) TMI 583 - CESTAT, AHMEDABADStay/Dispensation of pre-deposit - Modification of stay order - Recovery of dues - Limited company - Held that: - The appellant is a limited company and therefore liability of the Directors and the shareholders is limited to their shareholding and as rightly pointed out by the ld. Advocate, other than properties in the name of the company, it would not be possible for any one to recover additional dues since the liability of the company will be limited to the assets available. The assets available have virtually been disposed of in the sense that one property has been disposed by IFCI Ltd. and the second property remains attached by the Central Excise Department - the requirement of pre-deposit of duty and penalties waived.
|