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2014 (9) TMI 189 - HC - Central ExciseWaiver of pre-deposit - tribunal directed the petitioner to deposit a sum of ₹ 1.14 crores - petitioner raising various issues including the issue that the petitioner’s company has been referred to Board for Industrial and Financial Reconstruction (in short “BIFR”) and, therefore, the action for recovery of the amount is impermissible - held that:- The impugned order completely lacks the finding on the net-worth of the company, which is one of the factors to be considered at the time of consideration of an application for stay or waiver of pre-condition deposit under Section 35F of the Central Excise Act. There is no absolute bar in entertaining the writ petition despite the availability of a remedy by way of an appeal or otherwise provided under the statute. The Writ jurisdiction is based on rule of discretion than of compulsion. The power cannot be circumscribed in a narrow compass, as the language under Article 226 of the Constitution is designedly couched in a broader language and not confining it only to the power to issue a prerogative Writ as understood in English Law, but can reach where the injustice is found. The order impugned is set aside. The CESTAT is directed to consider the application afresh in the light of the law laid down in case of Sagarika Acoustronics Pvt. Ltd. (2007 (3) TMI 723 - Supreme Court of India) and the observations made in this order, and shall restrict its decision on the net-worth of the company on the basis of the records and materials already produced by the petitioner. - Decided in favor of assessee.
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