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2018 (8) TMI 1025 - AT - CustomsRelease of goods on payment of redemption fine - tug ‘M.V. Shunter’ - Held that:- The appellants submitted that ‘M.V. Shunter’ are not the owner of the tug; it was imported on re-export basis; no foreign exchange was remitted against the other goods and that the applicants now obliged to immediately handover the said tug to the respectful owners - the request of the appellants can be accepted. The respondents are directed to release the tug on payment of redemption fine of ₹ 8,00,000/-; duty liability of ₹ 1,32,13,016/- may be appropriated from the bank guarantee submitted to the appellants; the appellants shall, however, replenish the bank guarantee to that extent in adherence to this Bench Order dated 07.05.2014. Application allowed in part.
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