2020 (3) TMI 1354 - HC - Customs

Seeking release of the goods seized by the respondents - HELD THAT - It is directed that the petitioner to furnish bank guarantee equivalent to 30% of the differential duty and for the remaining amount, solvent surety to the satisfaction of the officer concerned. On furnishing such bank guarantee and solvent surety, the goods shall be released. It is made clear that bank guarantee so furnished by the petitioner shall be renewed from time to time until finalization of the proceedings.

Summary

The High Court of Andhra Pradesh directed the petitioner to furnish a bank guarantee equivalent to 30% of the differential duty and a solvent surety for the remaining amount to release the seized goods. The bank guarantee must be renewed until finalization of the proceedings.