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2012 (11) TMI 558 - HC - Central ExciseWaiver of pre-deposit - financial hardship – demand of duty and penalty - petitioner is a company engaged in manufacturing of textile goods and is 100% Export Oriented Unit - irregularities committed by the petitioners – Held that:- There is no manufacturing or other activity being undertaken by the company and with each successive year, accumulated loss swell - net profit of the company is in negative since long - petitioners have no means of fulfilling the pre-deposit condition - they are not seeking any stay against the duty and penalty demands, but requesting for the appeal being heard on merits without any pre-deposit - pre-deposit waived
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