2013 (2) TMI 145

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..... Jindal: The applicant moved an application for issuing direction to the respondent to return an amount of Rs.50,00,000/- received by encashing the bank guarantee executed by the applicant. It is the contention of the applicant that the applicant had obtained stay from this Tribunal vide order no. S/10/WZB/2007/CSTB/C-II dated 18.12.2006 on furnishing bank guarantee of Rs.50,00,000/-. The said ban .....

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..... complied with the condition of the stay order dated 18.12.2006 by executing bank guarantee of Rs.50 lakhs and the same is alive till 2015 and also obtained extension of stay vide order dated 01.08.2012, we direct the respondent to refund the amount of Rs.50 lakhs within seven days of communication of this order subject to the condition that the bank guarantee shall keep alive till disposal of the .....

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