2001 (12) TMI 512

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..... llant. Shri P.K. Jain, SDR, for the Respondent. [Order per : C.N.B. Nair, Member (T)]. We had passed a stay order on 14-9-2001 directing the applicants to make a pre-deposit of Rs. 8 lakhs. That order was set aside by the Hon'ble High Court of Allahabad and the matter remanded to us for fresh consideration in the light of the appellants submission regarding financial hardship. 2. T .....

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..... 4. A perusal of the balance sheet as on 31st March, 2001 makes it clear that the appellant is not in a position to raise amounts to make a pre-deposit. On a turn over of over Rs. 41 lakhs, the appellant is making a loss of Rs. 17 lakhs. A large portion of credit has been declared doubtful . In these circumstances, whatever be the merits of the case, insistence on pre-deposit of the amount of duty .....

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