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2013 (10) TMI 505 - CESTAT AHMEDABADWaiver of pre-deposit - Confiscation of a vessel which was imported - mis-declaration of vessel- Held that:- The show cause notice itself records that the vessel was released after getting bank guarantees from M/s. Snow Drop Co. Ltd., M/s. Vihar Shipping Agency Pvt. Ltd., Shri Prakash Ajmera, Shri Rajesh Parekh, M/s. Shirdi Steel Traders, Shri Manish L. Vyas and M/s. Labdhi Shipping (Agency) Pvt. Ltd. who are all appellants before us. Since the amount of bank guarantee which is executed by these appellants is more than the amount of the penalties that have been imposed by the adjudicating authority and on an undertaking given by the ld. consultant that these bank guarantees will be kept alive till the disposal of appeals, stay granted.
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