1999 (2) TMI 120

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..... r the Respondent. [Order per : G.N. Srinivasan, Member (J)]. This is an application for stay of deposit of Rs. 6,21,582/- being the duty demanded. The assessee is a small scale industry carrying on the business of the manufacture of excisable goods falling under Chapter 39. Assessee filed classification list dated 1-4-1993 w.e.f. 1-4-1993 claiming exemption under the Notification 1/93. T .....

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..... loss of Rs. 778 lakhs. But we find that there is a reserve of Rs. 3 crores with the company. We are, therefore, of the view that balance of convenience demands us to direct the appellant to deposit a sum of Rs. 2.5 lakhs, if necessary by way of installments, within two months from today. On such payment being made, there will be waiver of deposit of remaining sum of duty demanded and stay its reco .....

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