2014 (1) TMI 424

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..... Dr. D. M. Misra : These applications are filed for waiver of predeposit of penalty of Rs.5,18,436/- imposed on M/s Impex Ferro Tech. Ltd. under Section 11AC of the Central Excise Act, 1944 and penalty of Rs.5,18,436/ imposed on Mr. Virendra Kumar Jain, Director of the Applicant Company, under Section 26 of the Central Excise Rules, 2002. 2. At the outset, the ld. Authorised Representative of th .....

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..... or of the Company. 4. I find that the entire amount of duty has been paid during the course of investigation by the applicant, M/s Impex Ferro Tech. Ltd. and the same has not been disputed by the A.R. for the Department. Now, the applicant has made an offer to deposit an amount of Rs.2,50,000/- (Rupees two lakhs fifty thousand only) in addition to Rs.1.00 lakh already paid by them. The said offer .....

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