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2009 (6) TMI 599 - HC - CustomsRelease of goods - bank guarantee - assessee to furnish cash security – Held that: - furnish cash security, for all practical purposes, tantamounts to directing the assessee to make the payment of the disputed duty - duty to which the assessee has been assessed would be fully secured by furnishing of an unconditional bank guarantee - bank guarantee shall be an unconditional bank guarantee and the same shall be kept renewed - failing which it will be open to the respondents to invoke the bank guarantee - goods be released within 48 hours from the time of furnishing of the bank guarantee
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