Home Case Index All Cases Customs Customs + HC Customs - 2011 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (7) TMI 381 - HC - CustomsProvisional release of goods seized under Section 110 - the affidavit in reply contains a detailed disclosure of the material which is made available during the course of investigation - Undoubtedly, a notice to show cause is still to be issued to the Petitioners and an adjudication is to take place - At the same time, having regard to the material which has been disclosed during the course of the investigation, the order of the Commissioner of Customs (Import) requiring the Petitioners to furnish security cannot be faulted insofar as the requirement of security is concerned - It would be necessary to protect the interest of the Revenue, this object could be subserved by directing the Petitioners to furnish a bank guarantee of a nationalized bank - Accordingly, we direct that Condition (1) in the communication dated 15 February 2011 shall stand substituted by a direction that the Petitioner shall furnish a bank guarantee of ₹ 1,32,17,036/after giving due credit for the amount of duty paid in respect of the two cranes which have already been cleared against the payment of duty - Condition (2) shall stand modified by requiring the Petitioners to furnish a bank guarantee representing 10% of the ascertained CIF value of ₹ 7,30,44,625/after giving due credit in respect of the value of two cranes of which clearance has already been granted - The Petition is accordingly disposed of.
|