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2016 (9) TMI 27 - HC - CustomsRecovery of duty - section 28(1) of the Customs Act, 1962 – import of aluminum ingots - notification No.176/1980 dated 29.8.1980 – levy of additional duty to the extent of 12.5% of the value of goods – earlier notification rescinded by notification No.76-Cus dated 27.3.1981 with effect from 27.3.1981- issue of bank guarantee for recovery of the sums – non-renewal of bank-guarantee – proceedings under Sick Industrial Companies (Special Provisions) Act, 1985 – Held that: - the bank guarantee still in force and the bank will pay over the guaranteed amount to the appellant. Undertaking of payment of sum by the bank recorded – appeal disposed off – decided in favor of appellant.
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