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2021 (11) TMI 621 - AT - CustomsJurisdiction - officers of Directorate of Revenue Intelligence (DRI) are competent officers to issue show cause notices, or not - seeking to give permission/No objection certificate to the Applicant to sell Aircraft Beechcraft King B300 (350) against appropriate surety/security - HELD THAT:- In the interest of justice, time should be given to Revenue to argue the matter on merits especially in the light of the submission that the matter is covered by the judgment of Hon’ble Supreme Court in the case of M/S CANON INDIA PRIVATE LIMITED VERSUS COMMISSIONER OF CUSTOMS [2021 (3) TMI 384 - SUPREME COURT]. In so far as aircraft is concerned, it has already been released provisionally to the applicant by the Revenue. In the impugned order it has been confiscated and allowed to be redeemed on payment of redemption fine of ₹ 7 crore. It is further ordered that the bank guarantee may be invoked to recover the redemption fine. Now, the applicant is prepared to redeem the aircraft on the same terms, that is, by invocation of the bank guarantee of ₹ 7 crore or payment of ₹ 7 crore towards redemption fine - the interest of Revenue will be adequately covered if this part of the redemption order is allowed pending the final decision. Once the goods are redeemed, they become the property of the applicant and thereafter it is free to sell the aircraft. The aircraft may be redeemed on payment of the redemption fine of ₹ 7 crore by the applicant either in cash or by invocation of the bank guarantee. Upon such redemption, the Deputy Commissioner of Customs (Aircraft G-II), Office of the Commissioner of Customs (Preventive), New Customs House, New Delhi shall issue a permission/no objection certificate to the applicant to sell their aircraft that has been seized as soon as it is redeemed - The matter may be listed for final hearing in the month of January 2022. Application disposed off.
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