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2016 (3) TMI 37 - HC - CustomsProvisional release of seized goods- Entitlement of the Petitioner to avail of the benefit under the Status Holders Incentive Scrips (SHIS) in respect of exports made in the year 2011-12 notwithstanding that it has utilized the Zero Duty EPCG authorizations for a subsequent period- Held that: the provisional release of the seized goods would be allowed in favour of the Petitioner subject to the Petitioner executing a bond in a sum equal to 100% of the value of the goods and further furnishing security in the form of a bank guarantee for a sum equivalent to 30% of the differential duty, with an auto renewal clause and as per RBI guidelines.
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