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2014 (3) TMI 55 - HC - CustomsRelease of foreign currency seized earlier - grant of interest on such seizure as interest on arrears of refund - Held that:- The Customs Department themselves stated before this Court that the amount of US$ 289250 is lying with them while seeking a stay of the order dated 19 October 2010. - the petitioner has not been granted any interest on the amount of refund. It would therefore, be arbitrary and unreasonable to deny the petitioner, both interest on the arrears of refund for the period from 1994 to 2014 on the one hand and the compensation consequential upon variations in the foreign exchange rate between 1994 to 2014 on other hand. - Customs department directed to refund the amount.
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