TMI BlogCentral Excise Molassess- Storage and accounting of - RegardingX X X X Extracts X X X X X X X X Extracts X X X X ..... against the losses beyond permissible limits. The revised format of the Bond after deleting unnecessary words is enclosed for necessary action. COPY C.E. Molasses - Storage and accounting of - Instructions regarding. One of the Sugar Mills in the Jurisdiction of this Collectorate, who have stored molasses in Katcha pits. i when asked to execute the bond as per the performa forwarded by the Board in their letter F. No. 261/15-CC/4/82-CX.8, dated 22-10-1982, has stated that they are not bound to execute the bond inasmuch as, Rule 48 of the Central Excise Rules has already been deleted. It may be observed that proforma of the bond referred to above make specific mention of Rule 48. The said Rule 48 has been deleted vide Ministry of F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ............................. resident of................................at present residing at .................................... (hereinafter the above obligor(s), for and on behalf of M/s. ...................................... at ..................................... having Central Excise Licence No. .......................... ............................ am ...................................................................... are jointly and severally bound to the President of India in the sum of...................................... rupees to be paid to the President of India for which payment ............................................. bind we jointly and severally myself/ourselves and my/our lepal representative. The abov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per officer has refused to grant approval as such Katcha pits are not considered safe, and suitable place for storage of such molasses under rule 47 of the Central Excise Rules, 1944 and (2) If the obligor(s) having undertaken to pay to the Collector of Central Excise full duty which may be leviable on the molasses which may be stored by the obligors in the Katcha pits at their own risk, and having further agreed not to ask remission or duty under rule 49 of the Central Excise Rules, 1944, even if such molasses get deteriorated, lost, damaged or destroyed whether due to natural causes or otherwise, shall pay the duty as mentioned above. And if the obligor(s) or his/their legal representatives shall pay into the treasury to the account o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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