2002 (2) TMI 588 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi heard three stay petitions for waiver of pre-deposit of duty and penalties. The applicants inflated goods value to get higher credit limits from the bank. The Tribunal directed the applicants to deposit Rs. 2.0 crore by 18-5-2002 to stay recovery of the remaining duty and penalties during appeal. Non-compliance would lead to dismissal of appeals. Compliance to be reported by 24-5-2002.