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2016 (8) TMI 1067 - HC - Central ExciseSeeking provisional release of seized goods - modification in conditions imposed - Held that - it is directed that the Petitioner shall be permitted to provisional release of the goods upon furnishing a bond for 100% of the full assessment value and, in view of the statement of the Petitioners, upon payment of the full duty, without prejudice to their rights and contentions in the further proceedings if any. - Petition disposed of
Issues involved:
1. Conditions imposed by DGCEI for release of seized goods Analysis: The judgment concerns two petitions where the Petitioners sought the release of goods seized by the Directorate General of Central Excise Intelligence (DGCEI) under specific conditions. The DGCEI had required a bond for the full assessment value and a bank guarantee/cash security of 25% of the assessable value of the goods, plant, and machinery for the release of the seized items. The Petitioners, through their counsel, argued that the goods were seized several months prior, and they were willing to pay the full duty without prejudice to their rights. They contended that the requirement of a bank guarantee for 25% of the assessable value was contrary to previous court orders, which mandated a bond for 100% of the value of the goods and security in the form of a bank guarantee for 30% of the differential duty, with an auto-renewal clause and as per RBI guidelines. The Court acknowledged the Petitioners' submission and directed that the goods be provisionally released upon the Petitioners furnishing a bond for 100% of the full assessment value and paying the full duty as indicated by their counsel. The Court emphasized that this release should not prejudice the Petitioners' rights and contentions in any future proceedings. The Respondent No. 2 was instructed to promptly communicate this order to avoid unnecessary delays in releasing the goods. The judgment warned that non-compliance would allow the Petitioners to seek further directions from the Court. Ultimately, the petitions were disposed of with the specified modified conditions for the release of the goods.
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