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TMI Blog1999 (7) TMI 137X X X X Extracts X X X X X X X X Extracts X X X X ..... ndents. [Order per : P.C. Jain, Vice President]. - Briefly stated. The relevant facts of the case for its disposal are as follows :- 2. Appellant herein sent 200 bars of gold of 10 tolas each into this country to one Ganesh Exports with a direction to its bankers to release documents of import to the said party on collection of payment in cash. Later on, the appellant came to know from it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quivalent to value of gold and the Customs authorities were allowed to proceed in accordance with law in the case, thereafter. In persuance of the said direction of the High Court, the appellant furnished a bank guarantee to an extent of Rs. 1 crore and delivered it to the customs authority. Even then, the gold was not released to be re-exported. Instead the customs authorities filed a SLP in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f confiscation, the proceedings before the Supreme Court became infructuous. Hence, the SLP was dismissed as such and the appellant herein was directed to proceed in accordance with law before the appropriate authority. Hence, this appeal before us. 4. Learned Advocate Shri Pradeep Jain for the appellant has submitted that even though the show cause notice was received and, no doubt, reply t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... msp;At this stage learned Advocate Shri Pradeep Jain prays for directing the Commissioner to release the gold on furnishing a bank guarantee to the extent of Rs. 1 crore as has already been done. We leave this prayer for consideration by the concerned Commissioner of the Customs in accordance with law. However, we direct the Commissioner of Customs that the matter should be decided within a period ..... X X X X Extracts X X X X X X X X Extracts X X X X
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