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Issues involved: Application for modification of interim order u/s 17.01.2012, benefit of Circular Legal No. 39/1983, requirement of furnishing a bank guarantee, continuation of interim order from High Court.
Judgment Summary: The petitioners filed an application seeking modification of the interim order issued by the Supreme Court on 17.01.2012. They requested to enjoy the benefit of Circular Legal No. 39/1983 dated May 21, 1983, and be exempted from furnishing a bank guarantee as per the previous order. The respondents responded to the application. After arguments, the senior counsel for the respondent State suggested that the petitioners, who had the benefit of an interim order from the High Court since October 2007, should continue to have the same benefit until the disposal of the special leave petition. The Supreme Court acknowledged the submission of the senior counsel and modified the interim order. The direction to furnish a bank guarantee for 50% of the accrued tax liability/arrears was waived for the petitioners during the pendency of the special leave petition. The application was disposed of in accordance with this modification.
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