TMI Blog2011 (12) TMI 529X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue’s case - the earlier bank guarantee of ₹ 2 crores executed by the appellant should be considered as sufficient to cover present consignment also considering the quantum of reasonable fine and penalty that can be imposed in this case. Therefore, there is no need to give further bank guarantee as directed by the Commissioner - appeal allowed - decided in favor of appellant. - Customs Appeal No. 571 of 2011 with Misc. Application No.804 of 2011 - - - Dated:- 8-12-2011 - Ms. Archana Wadhwa, Judicial Member Mr. Rakesh Kumar, Technical Member For the Appellant: Shri Pradeep Jain, Advocate For Respondent: Shri Amrish Jain, SDR Per Ms. Archana Wadhwa: Present impugned order stands passed by Commissioner u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t be released till finalization of investigation. The letter further mentions that bond equal to the value of goods with adequate bank guarantee as may be determined by the proper officer, may be obtained from the exporters for provisional release of the goods. 4. The appellants also made another representation on 19.08.11 praying for waiving the conditions of bank guarantee as also claiming the release of bank guarantee of ₹ 2 crores given by the them at the time of release of goods covered by three shipping bills on the ground that the bank realisation certificate towards export proceed in respect of the said shipping bills stands received by the appellant on 06.07.11. As the goods were not being released, the appellant approac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e out against them. He submits that the appellant is running into demurrages of around ₹ 8 lakhs which is increasing everyday. Value of present export is to the tune of ₹ 3 crores and export benefit out of the same are around ₹ 22 lakhs. As such it is not justifiable on the part of the Revenue to seek bank guarantee of 25% of the value of the goods for releasing the same. He submits that the goods can be released subject to the appellant entering into a personal bond. In support of his above submissions, he relies on the Board s Circular No.1/2011-Cus, dtd. 4.1.11. 7. Ld. DR appearing for the Revenue also relies upon the same Board s Circular and says that where export goods are suspected of mis-declaration and furth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... these circumstances, we are of the view that directions of the adjudicating authority to further execute bank guarantee of 25% of the value of consignment is harsh and unjust. As such taking into account the overall facts and circumstances of the case, we hold that the earlier bank guarantee of ₹ 2 crores executed by the appellant should be considered as sufficient to cover present consignment also considering the quantum of reasonable fine and penalty that can be imposed in this case. Therefore, there is no need to give further bank guarantee as directed by the Commissioner. The appellant is directed to furnish a bond for an amount equal to the value of goods and letter from the bank to the effect that the bank guarantee already ex ..... X X X X Extracts X X X X X X X X Extracts X X X X
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