2013 (11) TMI 336

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..... on filed by the appellant seeks waiver and stay in respect of a penalty of Rs. 5,00,000/- (rupees five lakhs only) imposed on him under Section 114 of the Customs Act. On a perusal of the records, we find that Indian currencies amounting to over Rs. 73,00,000/- were seized from the appellant when he was about to board a flight to Sharjah. The currencies have been absolutely confiscated by the adju .....

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..... er considering the submissions of both sides, we are of the view that the appellant should predeposit only 50% of the penalty imposed on him. He shall deposit this amount within six weeks and report compliance to the Dy. Registrar on 13.5.2013. Dy. Registrar to report to the Bench on 20/5/2013. Subject to due compliance, there will be waiver and stay in respect of the balance amount of penalty. ( .....

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