1994 (3) TMI 97 - HC - Central Excise

Summary

The High Court set aside the Tribunal's order directing a bank guarantee of Rs. 1,00,000, allowing the appeal to proceed without pre-deposit due to the petitioner Company being declared a Sick Industrial Company by the Board for Industrial and Financial Reconstruction. The Tribunal was directed to dispose of the appeal on merits without the condition of pre-deposit. No costs were awarded. (Case Citation: 1994 (3) TMI 97 - High Court of Judicature at Bombay)