2008 (12) TMI 474

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..... R. Gyaneshwar, JDR, for the Respondent. [Order per : M.V. Ravindran, Member (J) (Oral)]. These two stay applications are directed against pre-deposit of the amounts mentioned below : I. Capital goods Aqua Packaging Customs duties 1,57,675.00 1,08,05,335.00 Excise duties 1,33,456.00 2,94,936.00 .....

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..... resentative appearing on behalf of the appellants submit that this is the second round of litigation before the Tribunal. At the first stage, the Tribunal had remanded the matter back to the lower authorities to reconsider the issue and grant the benefit of depreciation on the capital goods and confirm the demands accordingly. It is his submission that the adjudicating authority has considered the .....

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..... to pre-deposit the amount the appellant will not be able to do so in the facts and circumstances of this case. We find that the applicant is not in a position to deposit any amount. Accordingly considering the heavy losses and the company being closed due to the Apex Court s ban on the business of aqua culture, only on the ground of severe financial hardship, we waive the condition of the pre-depo .....

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