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2018 (7) TMI 927 - HC - CustomsProvisional release of seized goods - whether the petitioner is ready and willing to execute a bond as demanded by the authorities and in addition, furnish a bank guarantee so as to secure at least part of the duty demand, which eventually may be raised? - Held that:- In the facts and circumstances of the present case, we think it just, fair and proper and when the duty demand is substantially secured by a bank guarantee as also bond in favor of the Government of India that the following order will meet ends of justice:- On the petitioner executing a bond equal to 100% of the value of the goods and furnishing a bank guarantee in the sum of ₹ 1.40 crores both within a period of two weeks as stated and undertaken, the competent authority shall pass an order on the pending application seeking a detention certificate and release the goods in favour of the petitioner. The bank guarantee shall be kept alive till final orders of the Competent Authority. Petition disposed off.
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