9911796707
TMI Blog2003 (3) TMI 375X X X X Extracts X X X X X X X X Extracts X X X X ..... ts Shri Sanjay Agarwal, Shri Parvinder Singh Bhatia, Shri Vijay Vanwari, Shri Rajeev Agarwal, M/s. Link International, M/s. GMR Power Corpn. Pvt. Ltd., M/s. Select Impex Ltd., M/s. B.N. Exports, M/s. Deepal Corporation, M/s. Masitia Capital Services Ltd., was held on 6-3-2003. 2. All the applicants, except M/s. GMR Power Corporation Pvt. Ltd., were represented by Shri Sujoy Kantawala, Advocate and Shri Sanjay Agarwal. M/s. GMR Power Corporation Pvt. Ltd. was represented by Shri N.G. J.R. Luwang, Advocate. Shri Kantawala submitted the brief facts of the case as under :- 3. The applicants had filed an application before the Principal Bench, New Delhi for settlement of their case relating to their EPCG Licence registered at Mumbai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me. However, receipts of foreign exchange accrued to the importer (applicant) which were declared as their export earnings before DGFT, without any service having been provided by the applicant by the usage of the said capital goods i.e. cars. Most of the said remittances were merely in the nature of advance car rentals without any actual service of car rentals having been provided by the applicant. Further, in violation of the actual user condition applicable to the said imported goods till the export obligation was completed, it was revealed that even before any exports of services were undertaken and before the export obligation was completed, the applicant indulged in outright sale of the cars and the possession of the cars was with ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lling to admit the entire duty of Rs. 2,93,61,300/- as demanded in the said Show Cause Notice and made the following prayers :- 1. To admit their case for settlement; 2. To adjust Rs. 91,55,227/- which were paid for release of 4 cars out of 20 cars towards the admitted duty liability of Rs. 2,93,61,300/-; 3. To grant them two monthly instalments to pay the balance admitted duty liability; 4. To release the seized cars in proportion to the amount of duty as and when paid; 5. To execute a bank guarantee to the extent of 15% of the balance duty after adjustment of the already deposited sum of Rs. 91,55,227/-, 6. To execute a bond for the entire value of the impugned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meet all the parameters of that section. The Commission allows the amount of deposit of Rs. 91,55,227/- to be adjusted towards the admitted liability of customs duty of Rs. 2,93,61,300/-. The applicants shall pay the balance admitted liability of customs duty of Rs. 2,02,06,073/- in two equal instalments i.e. the first instalment within 30 days from the date of receipt of the copy of this order and the second instalment within 30 days thereafter. 16. The seized cars shall be released to the applicant on payment of full duty as above and after execution of a bond for full value of the goods and a bank guarantee of Rs. 30 lakhs. The seized goods are released only for the proper upkeep thereof. 17. Attention of all concerned is dr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
