2004 (5) TMI 457

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Kumar, SDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. -  These appeals are posted today for reporting compliance of this Stay Order No. 122/2004-B, dated  10-3-2004 and Stay Order No. 123-126/2004-B, dated 10-3-2004 by which M/s. M.P. Iron & Steel Co. were directed to deposit Rs. 10 lakhs and Rs. 2 lakhs respectively and the compliance was to be reported today, i.e. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ancially crippled. 3. Opposing the prayer, Shri Vikas Kumar, learned Senior Departmental Representative submitted that the Order of the Hon'ble High Court was very much in existence when the Stay petitions filed by the applicants were heard by the Tribunal and the stay was granted subject to deposit of certain amounts; that similarly the notice under the Act of 2002 by Punjab National Bank w .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hat mere fact that they have been declared sick or the Hon'ble High Court has restrained them from effecting any sale of goods does not mean that they are not required to pre-deposit any amount for the purpose of entertaining their Appeal. We, therefore, find no merit in the applications which are rejected. Accordingly for non-compliance with the provisions of Section 35F of Central Excise Act, al .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X