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2019 (5) TMI 1589 - DELHI HIGH COURTRestraint from encashing the bank Guarantee -deemed exports - goods imported by PEL (steel plates) for supply to NTPC who agreed to pay the duties leviable on the said imports - HELD THAT:- The learned counsel appearing for the respondents states that the said amount was paid by NTPC under protest and since the Export Obligation Discharge Certificate has not been provided, the bank guarantee ought not to be released. This Court finds the aforesaid contention unmerited. Concededly, the bank guarantee was submitted by PEL to secure the revenue to the extent of ₹8,15,00,000/-. As against the said bank guarantee, NTPC has paid a sum of ₹19,91,83,067/-, as quantified by the concerned authority. There is no justification for respondent no.1 now to continue to withhold the bank guarantee. The respondents cannot continue to withhold the bank guarantee after accepting the said amount of ₹19,91,83,067/- - respondent no.1 is directed to forthwith return the bank guarantee to NTPC - Petition disposed off.
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