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2000 (8) TMI 123 - AT - Central ExciseExtract: .......out payment of duty. 9. We have considered the rival submissions. On the basis of the grounds advanced by Shri Sridharan, we reduce the quantum of penalty imposed on M/s. Steelco Gujarat Ltd. from Rs.1,00,00,000/- to Rs.15,00,000/- and the penalty imposed on K.V. Divakar from Rs.10,00,000/- to Rs. 50,000/-. These appeals are decided in these terms.
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