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2009 (6) TMI 22 - ALLAHABAD HIGH COURTStay of Penalty - Interest of Revenue - Demand of Duty and Penalty against the company was partly stayed by the tribunal, not disputed - appeal has been filed against the order of deposit of Rs. 5 lakhs each for three individuals against heavy penalties imposed by the commissioner - HC observed that taking into consideration the aforesaid facts and the fact that M/s LIPL has also been directed to make a pre-deposit of Rs.18,61,416/- and an equal amount towards penalty, the interest of the Revenue can be adequately protected by modifying the order dated 27th May, 2009 to the extent that each of the appellant may furnish security which may be other than cash or bank guarantee for the amount of Rs. 5 lacs which has been directed to be deposited by the Appellate Tribunal. The security can be furnished within a period of six weeks from today.
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