TMI Blog2001 (5) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... ide the order dated 25-4-2001 with a prayer to direct the respondent not to auction the assets of the petitioner concern. A further prayer was also made to permit the petitioner to pay the instalments within three years. 3.According to the learned counsel for the petitioner, they had prepared a comparative chart for instalment of period of 1 year and 3 years which comes to Rs. 3,16,752/- and Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d be impossible for the petitioner company to make the payment of Rs. 31 lacs in a year's time. 6.Learned Advocate General further submits that the petitioner company has employed more than 100 employees in a Mini Cement Plant situated in backward area and in case the instalments are not fixed for 3 years to pay the amounts due, the company would face serious financial implications and the compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt have, now decided to further delegate the power to grant facility of payment of Central Excise dues upto 36 monthly instalments, on merits, to Commissioners of Central Excise, subject to payment of statutory rate of interest as provided for under Section 11AA of the Central Excise Act, 1944 read with Notification No. 21/95 dated 29-5-95." 8.The request of the petitioner was opposed by Shri Bh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the rate mentioned in Section 11AA, so, if the number of instalments is increased, the respondent, in our opinion, would not be put to any inconvenience or hardship. 10.In the above circumstances, we, therefore, grant 16 instalments to the petitioner company to pay the entire outstanding amount including interest. We make it clear that if the petitioner commits default in payment of any two ins ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
