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2009 (4) TMI 576 - CESTAT, MUMBAIExtract: .......quirement as per Foreign Trade Policy under Foreign Trade (development and regulations) Act, 1992 and is suffering demurrage losses, the redemption fine is waived and the penalty under Section 112(a) is reduced to Rs. 25,000/-. Accordingly stay application and application for early hearing are also disposed off in above terms. (Pronounced in Court)
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