Furnishing of B-13 bond with Bank Guarantee or suitable security - Regarding - Central Excise - 15/93-CX.6

Furnishing of B-13 bond with Bank Guarantee or suitable security - Regarding Circular No. 15/93-CX.6 Dated 28-10-1993 [From F. No. 224/30/93-CX.6] Government of India Central Board of Excise Customs New Delhi Subject : Furnishing of B-13 bond with Bank Guarantee or suitable security - Regarding. It has been brought to the notice of the Board by the Principal Collector of Central Excise, Bombay that there is a divergence of practice in regard to the percentage of B-13 bond amount to be covered by bank guarantee or cash security. He has reported that 50% cash security is being insisted upon in respect of the amounts covered by B-13 bonds following the Board's instructions contained in telex F.No. 275/59/91-CX.8A, dated 24-10-1991 and in some cases, the divisional officers insist only on 25% security in the form of Bank Guarantee in accordance with the Board's instructions contained in letter F.No. 214/16/84-CX.6, dated 9-11-1984 (Circular No. 40/84-CX.6). To follow the uniform practice in the matter it has been decided that the instructions issued vide F.No. 214/16/84-CX.6, dated 9-11-1984 (Circular No. 40/84-CX.6) may be followed strictly and instructions contained in Board's telex F.No. 275/59/91-CX.8 (A), dated 24-10-1991 may be treated as withdrawn. 2. It has also been decided, that the Collector concerned will have the liberty to accept a lower bank guarantee/cash deposit depending upon the merit of the case. 3. Field formations may be informed suitably