Customs, Excise and Gold Tribunal - Mumbai
Maharashtra Magnet Wires (P) Ltd. vs Commissioner Of Central Excise on 3 June, 2003
ORDER
Krishna Kumar, Member (Judicial)
1. Shri Naresh Thacker, learned Advocate appearing on behalf of the appellants submits that since the Department is pressurising to realize the amount of penalty and fine, the stay order dtd. 01/11/2002 granted in the matter may be extended till the final disposal of the appeal. He further submits that as per the directions given in the said stay order, the entire duty amount has been paid. He also submits that the fine of Rs. 5 Lakhs imposed may also be stayed till final disposal of the appeal. Besides, he brings to my notice that the Bank Guarantee for the total value of the goods of Rs. 2,20,000/- and bond for the total value of the goods of Rs. 21,91,360/- have been furnished in favour of the Department. His submission, therefore, is that in view of the facts of the case the fine may also be stayed till final disposal of the appeal. He also brings to my notice that Court No. 2 is granting such extension fairly
2. Shri S. Parelkar, D.R. appearing on behalf of the Revenue submits that though the Court No. 1 has earlier granted extension in such matters, however, few stay matters have been reserved by them for passing appropriate order with regard to such extension.
3. After hearing both sides and perusal of the records, I think it reasonable that the stay granted earlier may continue till disposal of the appeal. Till then the Department is directed not to take any coercive steps against the appellant for realization of fine. The appeal may be listed for final hearing on 18.07.2003.
(Dictated in Open Court)