2005 (12) TMI 493

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..... . [Order per : P.G. Chacko, Member (J)]. This application has been filed by M/s. Tamil Nadu Industrial Investment Corporation Limited, a Government of Tamilnadu undertaking. The prayer in this application reads as under :- It is therefore prayed that this Hon ble Authority may pending disposal of the Appeal be pleased to grant waiver of the pre-deposit penalty of Rs. 3,00,000/- impose .....

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..... were also notified to the present applicants, who had financed the import and was keeping custody of the goods in terms of Section 29 of the State Financial Corporation Act. Besides the importer, this applicant was also heard by the Commissioner. In the impugned order, Ld. Commissioner confiscated the machinery with option for redemption thereof against payment of a fine. He also imposed a penalty .....

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