1999 (3) TMI 240

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..... pellant. Shri K.L. Ramteke, JDR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. - Application is for waiver of deposit of duty of Rs. 8,67,325.92 and penalty of Rs. 1 lakh. 2. Applicant is absent and unrepresented despite issue of notice. 3. We have read the Stay Application and heard the Departmental Representative. The duty has been demanded and penalty imposed on t .....

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..... oceedings pending before the Board for Industrial and Financial Reconstruction (BIFR) is not substantiated with any evidence and there cannot be acceptable. Accordingly, we direct the applicant to deposit within two months from the receipt of this order a sum of Rs. 4 lakhs. Upon such deposit we waive deposit of remaining sum of duty and penalty and stay their recovery
Case laws, Decisions, Ju .....

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