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2013 (10) TMI 183 - CESTAT CHENNAIStay Application– Bank Guarantee - Overvaluation of Goods – Excess Drawback - Revenue was of the view that the appellants had overvalued the goods in order to claim excess drawback – Held that:- The bank guarantee executed by them had been encashed by the department towards the redemption fine and penalty and therefore, such amounts should serve as sufficient security for admission of their appeals and stay petitions may be allowed - The Revenue had not yet disbursed the drawback claim sanctioned and the bank guarantee executed by the applicant was also encashed by the department, these were sufficient for the purpose of admission of these appeals - Further, there shall be stay on collection of dues arising out of both the impugned orders during the pendency of the appeals – Stay Granted.
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