2013 (4) TMI 710 - HC - Customs

Waive of pre deposit - Held that - The total duty payable by the petitioner/appellant Bank and M/s. ORJ Electronic Oxides Limited is said to have been quantified at Rs. 30, 61, 064 - duty is payable jointly and severally by ICICI Bank and the said ORJ Electronic Oxides Limited. - there shall be an order of interim stay on condition that the petitioner/appellant shall deposit a sum of Rs. 15, 00, 000 with the second respondent within a period of four weeks - partial stay granted.

Summary

The High Court of Madras granted an interim stay on penalty only. The duty payable by the petitioner is quantified at Rs. 30,61,064. The petitioner must deposit Rs. 15,00,000 within four weeks to maintain the interim stay.