2007 (4) TMI 688 - HC - Central Excise

Summary

Issues involved: Application for directions to disclose property details and restrain alienation during legal proceedings.

Summary:
The applicants filed an application seeking directions for the opponents to disclose all movable and immovable properties owned by them and to declare any properties transferred or alienated. The opponents were also requested not to dispose of any properties during the legal proceedings. The court noted the substantial duty/penalty liability of the opponents and their actions of notifying plant and machinery for sale. The opponents admitted the discontinuation of manufacturing activities and highlighted substantial reserves in their balance sheet. Considering the circumstances and the opponents' statements, the court decided to restrain the opponents from alienating any properties without permission during the proceedings. The application was partly successful, and the opponents were prohibited from transferring any properties without the court's or Commissioner's approval. No costs were awarded in this matter.