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2016 (3) TMI 842 - AT - CustomsExercise of Tribunal's power granted under provisions of Rule 4 and 41 of CESTAT (Procedure)Rules - Seeking provisional release of vessel - Extended on execution of bond and bank guarantee - Held that:- applicant has not made out any case for exercising our inherent power, as the option which was extended to him for payment of redemption fine in lieu of confiscation should have exercised by him when the order-in-original was passed. Also the law is very clear that the redemption fine has to be paid by the applicant in lieu of confiscation as the applicant is still using the vessel and in possession of the said vessel. Therefore, this is not a fit case for us to exercise the powers granted to us under the provisions of Rule 4 and 41 ibid. - Decided against the appellant
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