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2021 (1) TMI 940 - HC - CustomsSeizure of export goods - overvaluation in exports - fraudulent availment of duty drawback and other export incentives by some exporters including the applicant - HELD THAT:- Even the applicant had conceded that if necessary it would furnish bank guarantee to the extent of 20% of the duty drawback amount which would accrue on export of the goods - That being the position we modify the provisional release order dated 31.12.2020 by directing the respondents to release the goods of the applicant for export subject to submission of bond equivalent to declared value of goods and submission of bank guarantee to the extent of 20% of the duty drawback payable. On such compliance respondents to release the goods of the applicant forthwith within 48 hours from the date of furnishing such bond and bank guarantee. Regarding seizure of computers etc. we find that those were seized on 07.12.2020 and continues to be retained by the respondents. Respondents are therefore directed to release the electronic goods seized from the residential and business premises of the applicant vide panchanama dated 07.12.2020 immediately after making clone copies therefrom. Application disposed off.
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