2002 (1) TMI 637

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..... ri Bodade, DR, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. The adjudicating authority has held that the value of catalyst imported by M/s. Tamilnadu Petro Products Ltd. was under declared - the value declared was US$ 77.50 per kg whereas it should have been US$ 131.96 per kg. The Commissioner has ordered confiscation of the goods with option to redeem the same on pa .....

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..... to Rs. 67 lakhs of the value of the goods is higher, the redemption fine imposed works out to be only 9% of the value and also that the penalty is too low, having regard to the finding of the mala fides on the part of the importers. 3. We have heard Shri Sundarrajan, Advocate for the importers and Shri Bodade, DR, for the Revenue. 4. The importers have not been able to explain satisfactorily a .....

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