9911796707
TMI Blog2012 (1) TMI 174X X X X Extracts X X X X X X X X Extracts X X X X ..... ned Counsel for the appellant and the learned Counsel appearing for the second respondent. 2. This appeal is filed against the order of the Customs, Excise & Service Tax Appellate Tribunal, by which, the Tribunal on the applications for waiver of pre-deposit of duty of Customs of ₹ 2,46,16,126/- toy the applicants who are the company as well as Directors, respectively, has directed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pending appeal, against the order of authority, viz., Commissioner of Excise, applications for waiver came to be filed. 4. The Tribunal while considering the same, has taken note of the fact that the applicants company had imported plant, Machinery and chemicals for manufacture of calcined walls from various suppliers to Manufacture rapid wall products in India and the erection, commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appellants, has initiated recovery proceedings, under the SARFAESI Act and in fact, notice under Section 13(2) of the SARFAESI Act has been given and the same is pending. In such circumstances, it is the contention of the learned counsel for the appellants that imposition of payment of such a huge amount of ₹ 80 lakhs as pre-deposit will definitely cause hardship to the appellants. 6.&em ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fect that the appellant shall deposit a sum of ₹ 10 lakhs only towards duty, within eight weeks from today and on such deposit, the balance duty and penalties imposed on the company shall stand waived and the recovery thereof is stayed pending appeal. It is also further made clear that on making such deposit, the Tribunal shall take up the appeal to its file and decide the same on merits and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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