2001 (12) TMI 757

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... K.M. Mondal, Consultant, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. Duty demand of Rs. 275,34,45,737/- has been confirmed against the applicants herein, holding that items of equipments, machinery etc. imported for Liquefied Natural Gas (hereinafter referred to as LNG) facility by the applicants are not entitled to assessment under Tariff Item 9801.00(3) as well as .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ) issued a letter to the applicants informing them of the various defaults as a result of which the Bank of America assumed full control and supervision of all accounts of the applicants, thereby making it impossible for the applicants to make any payment without prior approval of the Bank of America, that in May, 2001, the MSEB gave a notice to the applicants to rescind the agreement, that on or .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 72.5 crores. Keeping all these factors in view, we hold prima facie that insistence of any pre-deposit shall result in grave financial hardship and therefore, without going into the merits of the matter, we waive the pre-deposit of duty and penalty subject to following : (1) the applicants shall not clear goods pending for clearance till the disposal of this appeal and (2) the applicants shall kee .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X