2007 (12) TMI 223 - SCH - Central Excise

Stay/Dispensation of pre-deposit - BIFR unit - Held that - Since the company is under BIFR, we are of the view that ends of justice would be subserved if the petitioner assessee is directed to submit the title deeds of the properties belonging to the Group Company with the Registrar of the CESTAT within four weeks. The title deeds shall remain with the Registrar for a period of four weeks after the date of the decision by the CESTAT.

Summary

The Supreme Court directed the petitioner assessee to submit title deeds of properties to the Registrar of the CESTAT within four weeks. The title deeds will remain with the Registrar for four weeks after the CESTAT's decision. The Court considered the company being under BIFR as an important factor. The undertaking filed by the Director of the Group Company was accepted. Special Leave Petition is disposed of.