TMI Blog2003 (3) TMI 524X X X X Extracts X X X X X X X X Extracts X X X X ..... smuch as the appellants did not deposit the amount in question, their appeal was dismissed for non-compliance vide Order No. A-l393/Kol/2002, dated 28-11-2002. 2. Shri S. Dasgupta, ld. Advocate appearing for the appellants, submits that the said Stay Order was challenged by way of filing of the Writ Petition before the Hon ble High Court of Kolkata. The said Writ Petition stands disposed of by the Hon ble High Court vide Order dated 10-2-2003 vide which the miscellaneous and final order dismissing the appeal was set aside and it was directed that the Tribunal will hear the application for review of the stay order afresh after taking in to consideration the documents filed by the petitioners. Accordingly, we have heard Shri S. Dasgupta, ld ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e financial position, Shri Mondal, ld. SDR, submits that in view of the fact that they have been maintaining two sets of balance sheets and profit and loss account, the balance sheet now produced before the Tribunal casts doubt about its authenticity. In any case, he submits that the balance sheet does not reflect poor financial condition of the appellants inasmuch as the share capital of the appellants is to the tune of Rs. 50 lakhs and Bank deposits are to the tune of Rs. 22 lakhs and 17 lakhs. He however submits that the reserve as reflected in the balance sheet produced by the appellants is to the tune of Rs. 20 lakhs for the year ending March, 2001 and to the tune of Rs. 8 lakhs for the balance sheet as on 31st July, 2002. Further, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reserve and surplus are to the tune of Rs. 20 lakhs and 8 lakhs. In the circumstances, it cannot be said that the appellants is in a poor financial condition. We deem it fit to put them some terms of deposit in terms of the provisions of Section 35F of the Central Excise Act, 1944. Accordingly, the appellant is directed to deposit an amount of Rs. 10 lakhs (Rupees ten lakhs only) within a period of six weeks from today and report compliance on 21st May, 2003 when their appeal would be taken up for final disposal after ascertaining compliance. Subject to deposit of the above amount, the balance amount of duty and the entire amount of penalty shall stand waived and its recovery stayed during the pendency of the appeals. Miscellaneous applicat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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