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2018 (4) TMI 170 - HC - CustomsFurnishing of Bank Guarantee - release of seized vessel - Held that: - in the facts and circumstances of the case and only not to cause a breach of the contractual obligations as also to allow the petitioner to argue its case on merits as and when a show cause notice is issued, the seized vessel can be released. Each of these undertakings and reproduced are accepted as undertakings given to this court. In these circumstances, we modify the order of the tribunal. We modify it only to the extent of furnishing the bank guarantee in the sum of ₹ 10 crores - bank guarantee need not be furnished, but the vessel should be released provisionally to the petitioner on the express undertakings given to this court. Petition disposed off.
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