9911796707
TMI Blog1994 (9) TMI 187X X X X Extracts X X X X X X X X Extracts X X X X ..... Venkataramani, Member (T)]. - This is a Stay Application for the waiver of the penalty of Rs. 3,00,000/- (three lakh only) under Section 112 of the Customs Act, 1962 imposed on the applicant herein by the Collector of Customs, Bombay-II in his impugned order dated 10-1-1994. 2. The learned Consultant, Sh. A.S. Sundar Rajan appearing for the applicant submitted that in this case the Collector ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant herein had sold the cars immediately after purchase at high profit which clearly shows that he is involved in the offence along with Mr. Sadiq Futehally who has also been penalised in the proceedings. The penalty on the applicant is justified having regard to the role he played in the offence. 4. We have considered the submissions made by the parties. This is one of the group of appeals a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stayed. 5. The matter to come up for ascertaining compliance on 2-12-1994. 6. In passing the above order, we note that as far as the duty aspect is concerned it stands covered by a bank guarantee already executed in this regard and this bank guarantee may be continued. It is made clear no order is passed as regards redemption fine since it is not covered under Section 129E of the Customs Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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