2013 (10) TMI 505

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..... ekh, M/s. Shirdi Steel Traders, Shri Manish L. Vyas and M/s. Labdhi Shipping (Agency) Pvt. Ltd. who are all appellants before us. Since the amount of bank guarantee which is executed by these appellants is more than the amount of the penalties that have been imposed by the adjudicating authority and on an undertaking given by the ld. consultant that these bank guarantees will be kept alive till th .....

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..... s Rs.1,00,000/- Rs.1,50,000/- Shri Manish L. Vyas Rs.3,00,000/- Rs.5,00,000/- M/s. Labdhi Shipping (Agency) Pvt. Ltd. Rs.27,00,000/- Rs.42,50,000/- 2. Heard both sides and perused the records. 3. The issue involved in these cases is the confiscation of a vessel which was imported. Adjudicating authority is of the view th .....

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..... y of Rs.69.50 lakhs. It is his submission that the bank guarantees are alive as on today. 4. On perusal of the records, we find it so. The show cause notice itself records that the vessel was released after getting bank guarantees from M/s. Snow Drop Co. Ltd., M/s. Vihar Shipping Agency Pvt. Ltd., Shri Prakash Ajmera, Shri Rajesh Parekh, M/s. Shirdi Steel Traders, Shri Manish L. Vyas and M/s. La .....

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