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2013 (11) TMI 33 - AT - CustomsStay application - Duty demand - Held that - It appears from the records that the appellant has furnished bank guarantees for the total amount of Rs.14.22 crores and also a fixed deposit of Rs.1.01 crore to secure the Revenue. Further, from submissions of both sides, it appears that there is ad interim stay granted by this bench vide miscellaneous order dated 10.12.2010 which indicates that there was a direction to keep the bank guarantee alive till the final disposal of the stay application and there was a further stipulation that no coercive action be taken till the disposal of the stay application. - the stay of recovery can continue till the final disposal of the appeal which, in any case, is going to take place in the near future - Stay granted.
Issues:
1. Application for waiver of pre-deposit and stay of recovery. 2. Application for out-of-turn disposal of the appeal. Waiver of Pre-deposit and Stay of Recovery: The judgment addresses two applications - one for waiver of pre-deposit and stay of recovery, and the other for out-of-turn disposal of the appeal. The appellant sought waiver and stay regarding the duty demand and penalties imposed. The appellant had furnished bank guarantees totaling Rs.14.22 crores and a fixed deposit of Rs.1.01 crore to secure the Revenue. An ad interim stay was granted earlier, directing the bank guarantee to be kept alive until the final disposal of the stay application. The appellant assured the bank guarantee would be maintained until the appeal's final disposal. Considering the high stakes involved, the appeal was expected to be disposed of soon, allowing the ad interim stay to continue until then. The Revenue had no objection to the out-of-turn disposal of the appeal, and both parties had filed similar applications for the same. Consequently, the Tribunal allowed both miscellaneous applications, directing the appeal to be heard out of turn on a specified date and extending the stay until the hearing. Out-of-Turn Disposal of the Appeal: The Tribunal granted the two miscellaneous applications, allowing the appeal to be listed for an out-of-turn hearing on a specific date. With the appeal set for a near-future hearing, an extension of the stay was ordered until then. The waiver of pre-deposit was also granted as requested. The judgment was pronounced and dictated in open court, resolving the issues raised by the appellant effectively and ensuring a timely hearing and resolution of the appeal.
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