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2016 (11) TMI 617 - BOMBAY HIGH COURTRelease of seized consignments - provisional order - restoration of IEC number - Held that: - on deposit of ₹ 15,00,000/ in cash within fifteen days as suggested and on furnishing a bank guarantee in the sum of ₹ 15,00,000/, both within two weeks from today, the seized goods shall be released. The seizure as also the release is without prejudice to the rights and contentions of all the parties. Merely because a direction is issued to release the Petitioner’s goods, does not mean that the Revenue is restrained from issuing a show cause notice and passing an order of adjudication in furtherance thereof. The adjudication proceedings can be initiated and concluded on their own merits and in accordance with law, uninfluenced by any provisional release order. We expect that the Revenue would do that expeditiously for it has claimed to have unearthed a huge fraud perpetrated on public. Let the Petitioner comply with these statements and which we have accepted without prejudice to the rights and contentions of the parties and thereafter, the Additional Commissioner of Customs, Drawback Department, Nhava Sheva, Mumbai, shall take appropriate steps and unlock the IEC number as prayed in the Petitioner’s application dated 4th March, 2016 - petition disposed off.
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