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TMI Blog2013 (2) TMI 420X X X X Extracts X X X X X X X X Extracts X X X X ..... er namely V. Sankaran - Applicant contended that the applicants except V. Sankaran are bonafide purchasers of DEPB scrips and they were not involved in purchase of fraudulent or fake DEPB scrips Held that:- As regards V. Sankaran, we find that it is a case of fraud played by V. Sankaran actively in the matter. Therefore, direct V. Sankaran to make a predeposit of 50% of the penalty amounts conf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redeposit of penalties confirmed against him under the provisions of Customs Act, 1962. 2. On behalf of the applicants namely, M/s. Glory Impex, M/s. K.T.V. Oil Mills Ltd., M/s. Crystal Traders and M/s. Jupiter Trading Corporation, learned counsel submits that the applicants are the bonafide purchasers of DEPB scrips and they discharged the duty liabilities at the time of clearance of the goods. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... together and turn down the request of Shri V. Sankaran for adjournment 5. It is contended on behalf of the applicants that the applicants except V. Sankaran are bonafide purchasers of DEPB scrips and they were not involved in purchase of fraudulent or fake DEPB scrips. Therefore, the duty what they have paid may be treated as sufficient to comply with the provisions of Section 129E of the Custo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... following the precedent decision of the Tribunal, we direct the applicants namely M/s. Glory Impex, M/s. K.T.V. Oil Mills Ltd., M/s. Crystal Traders and M/s. Jupiter Trading Corporation to predeposit the amount of duty confirmed less already paid within a period of 12 weeks and report compliance on 25.10.2012. On such compliance interest and penalties shall remain waived during the pendency of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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