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2013 (3) TMI 113 - HC - Central ExciseClandestine removal of processed Man Made Fabrics (MMF) - demand of duty with recovery of interest and penalty - assessee submitted that his Company was in the process of revival prayer for waiver of the condition of pre-deposit denied - Held that:- Tribunal appears to have made rather hard an observation as if it were a case of admission regarding clandestine removal by the petitioner. The observations foregoing are to indicate that at the given stage, the Tribunal appears to have over-stepped the aspect of prima facie case and rather made an assumptive and hard observation about the alleged admission of the petitioner. It would be one thing to say that a particular explanation is not accepted and absolutely different to say that there is an admission. Thus hasten to observe that ultimately the matter is to be adjudicated upon and decided in the pending appeals and hence, no final comments on the merits of the case either way have been made. Thus considering the submissions that the petitioner's matter had been before the Board of Industrial and Financial Re-construction ('BIFR') and where the matter was allegedly dropped as the Company could not be revived. It is submitted that despite these odds, the Directors of the petitioner-Company are making all out personal efforts for revival of the Company and they have paid off dues of one of its secured creditors, namely Saraswat Co-operative Bank Ltd. and have also settled the matter of dues as regards Rajasthan Financial Corporation. Thus noticing the fact that the petitioner has indeed deposited the amount of Rs.22,32,781/- as assured before this Court, the petitioner deserves to be given some relaxation in the matter of the condition of pre-deposit - it would serve the cause of justice if the petitioner is directed to make deposit of another sum of Rs.11,16,000/- within a period of four weeks from today and to furnish solvent security before the Tribunal for making payment of the remaining amount, in case so required, as per the final order tobe passed in the appeals.
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