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TMI Blog2013 (12) TMI 342X X X X Extracts X X X X X X X X Extracts X X X X ..... al Superintendent stated that in the factory location, there is no building or machinery belonging to the applicant but a housing project is being executed at that site by another company by name M/s. Akshaya Pvt. Ltd. - BIFR recorded that the possession of the assets of applicant-company has been taken over by M/s. Kotak Mahindra Bank Ltd. under Section 13(4) of SARFAESI Act and abated the reference in accordance with third proviso to Section 15(1) of SICA - the secured creditors and Government Departments are at liberty to file/pursue suit, if already filed, before the competent court of law to recover the dues from the company. Non-production of References – Waiver of Pre-deposits of Excise duty as well as custom duty – Held that:- Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... une 1995 to October 1998. It has been alleged by a show-cause notice dated 5.12.2005 that the applicants had violated the post-import conditions of the Notification No. 13/81-Cus. read with Notification No. 53/97-Cus. dated 3.6.97 and 96/93-Cus. dated 2.3.93 as amended and terms of Bond after having availed customs duty benefit to the tune of Rs.26,01,60,106/- for import of capital goods and Rs.47,58,213/- on raw materials and also contravened the condition of Bond and Notification No. 1/95-CE and under Rule 196 of the erstwhile Central Excise Rules, 1944 and availed Central Excise duty benefit of Rs.19,55,494/- on the indigenous material procured under CT-3. By the impugned order, the demand of entire amount of duty was confirmed along wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble. He submits that the show-cause notice was issued in 2005 along with four sets of relied upon documents, which were served on the Director of the company who are the applicants before this Tribunal. He also submits that vide letter dated 4.1.2006 they sought three months time to reply to the show-cause notice for the reason that the factory was raided by various Government Departments. It is submitted that in their letter they have not mentioned that they have not received the relied upon documents. The learned AR produces a copy of the BIFR order dated 21.12.2011. He also produces a letter dated 9.12.2011 issued by Kotak Mahindra Bank Ltd. in the context of BIFR order. He also submitted a copy of the letter dated 30.10.2009 of the appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that site by another company by name M/s. Akshaya Pvt. Ltd. We have also noticed that BIFR vide order dated 21.12.2011, recorded that the possession of the assets of applicant-company has been taken over by M/s. Kotak Mahindra Bank Ltd. under Section 13(4) of SARFAESI Act and abated the reference in accordance with third proviso to Section 15(1) of SICA. It has also observed that the secured creditors and Government Departments are at liberty to file/pursue suit, if already filed, before the competent court of law to recover the dues from the company. We have seen the letter dated 9.12.2011 addressed to the jurisdictional Deputy Commissioner of Central Excise issued by M/s. Kotak Mahindra Bank Ltd. requesting them to take up the matter wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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