TMI Blog2015 (11) TMI 201X X X X Extracts X X X X X X X X Extracts X X X X ..... espondents have not pointed out any circumstance which may raise an apprehension or presumption that the petitioner will not discharge its liability qua any amount that may be assessed at the time of final adjudication. - we quash the condition (b) requiring the appellant to furnish a bank guarantee of 10% amount of the declared FOB value. The petitioner shall furnish personal/ surety bond and und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has approached this Court inter alia praying for quashing the condition number (b) of provisional release letter dated 18.06.2015 asking it to furnish bank guarantee to the tune of ₹ 6,95,000/-. 2. The Officers of respondent No.2 seized five containers of the petitioner at ICD, Ludhiana on 05.03.2015, 19.03.2015 and 20.03.2015. The petitioner deposited ₹ 10,00,000/- and requested r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to furnishing of bank guarantee of 20% of declared FOB value, apart from execution of bond of 100% of declared value. On 25.05.2015, the petitioner deposited ₹ 5,00,000/- with the respondent by way of a demand draft and requested respondent No.4 for provisional release of seized goods, but without insisting for bank guarantee, whereupon the respondent No.4 reduced the amount of bank guarante ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on a simple dispute of classification and valuation. In the instant case also there is a dispute regarding valuation of the goods to be exported. 6. In Kuber Casting (P) Ltd. V/s Union of India, 2013 (297) E.L.T. 4 (P H), a Division Bench of this Court has again held that the demand of a bank guarantee is not only harsh, but squeezes the petitioner s business. The condition of a bank guarante ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue, it would discharge its liability, without any protest or demure subject, however, to its right to file an appeal. The goods if not released, be released to the petitioner within two weeks from the date of receipt of certified copy of this order. It is clarified that any observation made hereinbefore shall not be taken as an expression of opinion on the merits of the controversy. 9. However, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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