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TMI Blog2015 (5) TMI 878X X X X Extracts X X X X X X X X Extracts X X X X ..... They are equally free to pass such orders as are permissible in law. However, we cannot allow the retention of the bank guarantees/pay orders, as sought by the Respondents. The bank guarantees/pay orders be returned, duly cancelled, within a period of four weeks - Decided in favour of appellant. - WRIT PETITION NO. 7964 OF 2014 - - - Dated:- 22-12-2014 - S.C.DHARMADHIKARI AND A.A.SAYED, JJ. For The Petitioner : Mr. Darius B. ShroffSenior Advocate with Mr.Rahul Jain and Ms. Mamta Kadam i/b. M/s. Res. Legal For The Respondent : Mr. B. M. ChatterjeeSenior Advocate with Mr. M.S. Bharadwaj and Ms. Neeta V. Masurkar P.C. : On this Writ Petition under Article 226 of the Constitution of India, which sought a restraint agains ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce this Directorate is considering the request as made above, interest of justice would be served, if, this Petition is placed under the same caption. However, in order to balance the equity and not caused any prejudice to the Petitioners, we continue our adinterim order which has been passed by this Court on 1st September, 2014 for a period of four weeks but without prejudice to the rights and contentions of respective parties. The liberty is reserved to the Petitioner to apply in the event of any emergent situation. Stand over to 27th October, 2014. 2) Thus, the adinterim order was continued for a further period of four weeks without prejudice to the rights and contentions of both sides so as to enable the Petitioner to obtain the ou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h legal proceedings as are permissible in law, they are free to do so. However, they cannot retain the bank guarantees/pay orders, as is now sought. The bank guarantees/pay orders were retained because the Petitioner having failed to discharge the export obligation and no certificate having been obtained in that behalf, there was a default in complying with the requisite provisions of the Customs Act, 1962 and the Rules made thereunder. It is for that purpose and to secure the revenue that this without prejudice arrangement was made. If the Revenue has any powers in terms of the rules and regulations to initiate legal proceedings, they are free to do so. They are equally free to pass such orders as are permissible in law. However, we cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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