9911796707
TMI Blog1998 (3) TMI 197X X X X Extracts X X X X X X X X Extracts X X X X ..... Justice U.L. Bhat, President]. Appellant in Appeal E/1371 has filed this miscellaneous application seeking modification of Stay Order No. 92-99/97-A passed on 9-9-1997, 1997 (96) E.L.T. 71 (Tribunal). By this order we directed the appellant M/s. Plus Cosmetics Pvt. Ltd. to deposit Rs. 48 lacs in three equal instalments payable on or before 1-12-1997, 1-3-1998 and 1-6-1998 respectively. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 97 was not available at the time of hearing of the stay application and has been prepared since then. It shows that reserves had come down to Rs. 38 lacs. Out of Rs. 38 lacs, Rs. 23 lacs represented the value of equipment and the balance amount is due to the applicant and the condition of the debtors is such that there is no possibility of recovering the amount. (4) Even going by the Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e explained the state-of- affairs to us at the time of hearing of the stay application. In these circumstances, we are not able to agree that there is any subsequent development which calls for any modification of the stay order. 4. In the circumstances, we extend the time for deposit of first and second instalment to 31-3-1998 and 30-4-1998 respectively. For compliance call on 8-5-1998. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
