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2015 (11) TMI 201 - HC - CustomsRequest for quashing provisional release letter asking it to furnish bank guarantee to the tune - Held that:- petitioner has already paid ₹ 5,00,000/- and is also ready to furnish personal/surety bond equivalent to the declared value of the goods. The respondents have not pointed out any circumstance which may raise an apprehension or presumption that the petitioner will not discharge its liability qua any amount that may be assessed at the time of final adjudication. - we quash the condition (b) requiring the appellant to furnish a bank guarantee of 10% amount of the declared FOB value. The petitioner shall furnish personal/ surety bond and undertaking that in the eventuality of any other amount found due, it would discharge its liability, without any protest or demure subject, however, to its right to file an appeal. The goods if not released, be released to the petitioner within two weeks from the date of receipt of certified copy of this order. - petitioner shall not be entitled to claim any duty draw back and the amount of ₹ 5,00,000/- deposited by him shall be adjusted in its liability in case any found due against it - Decided partly in favour of assessee.
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