2004 (10) TMI 355

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..... a, SDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. This is an application by M/s. Bajrang Wire Products (India) Pvt. Ltd., for waiver of pre-deposit of Central Excise duty amounting to Rs. 2,85,71,358/- and penalty of Rs. 4 lakhs. 2. Shri L.P. Asthana, learned Advocate, submitted that the applicants are engaged in drawing of wire from wire rods which they clear on paym .....

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..... ng the wires; that if the process undertaken by them does not amount to manufacture the duty paid by them on wire should be treated as reversal of Cenvat credit initially availed of by them. Reliance has been placed on the decision of the Tribunal in the case of Vinayak Industries v. C.C.E., 2003 (159) E.L.T. 456 (T). Finally, he submitted that provisions of Section 11D of the Central Excise Act a .....

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