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2021 (8) TMI 670 - BOMBAY HIGH COURTProvisional release of the Vessel - requirement of furnishing bank guarantee or cash deposit and execution of bond - HELD THAT:- The evasion of duty on the materials, namely, the HSD and the sludge oil does not appear to be of substantial amounts for which the bank guarantee of ₹ 35 lakhs, as furnished by the petitioner, can be said to be insufficient. The question is, however, of the Vessel itself being treated as goods and which is valued at ₹ 7 Crores. As to whether the Vessel would be liable for confiscation and further consequential orders, is an issue which would be required to be decided in the adjudication of the show cause notice, which has now been issued to the petitioner calling upon the petitioner to reply the same within 30 days of its receipt. It would be appropriate that the respondents proceed to adjudicate the show cause notice, after the reply is filed by the petitioner within the prescribed period of 30 days granted to it from the date of the receipt of the show cause notice. At this stage it may not be appropriate to consider the merits of the rival contentions which are certainly issues falling under the show cause notice. It would be in the interest of justice that provisional release of the Vessel by the respondents be ordered pending the adjudication of the show cause notice - Petition disposed off.
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