2012 (4) TMI 145

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..... sides. The applicants filed this application for waiver of pre-deposit of penalty of Rs.2 lakhs imposed under Section 112(b) of the Customs Act, 1962. The contention of the applicants is that the applicants financed the project of Perfect Gold India Ltd. as Perfect Gold India Ltd. failed to repay the amount in loan. The applicants being a financer and took over the project and thereafter sold to Z .....

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