2013 (10) TMI 505

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..... d for the waiver of pre-deposit of the following amounts: Appellant Penalty u/s 112(a) & (b) Penalty u/s 114AA M/s. Snow Drop Co. Ltd. Rs.5,00,000/- Rs.8,00,000/- M/s. Vihar Shipping Agency Pvt. Ltd. Rs,2,00,000/-   Rs.3,00,000/-   Shri Prakash Ajmera Rs.4,00,000/- Rs.6,00,000/- Shri Rajesh Parekh Rs.10,00,000/- Rs.15,00,000/- M/s. Shirdi Steel Traders Rs.1,00,000/- & .....

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..... It is also his submission that the penalties imposed under Section 114AA is not correct in these cases and nor also the penalties imposed under 112(a)&(b) of the Customs Act, 1962. It is his further submission that the various appellants have executed various bank guarantees to the tune of Rs.1.20 crores as against the liability of Rs.69.50 lakhs. It is his submission that the bank guarantees are .....

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