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TMI Blog2005 (10) TMI 19X X X X Extracts X X X X X X X X Extracts X X X X ..... -1704/2005-WZB/C-I(EB) - Dated:- 28-10-2005 - [Order]. - The appellants is a manufacturer of MMF falling under Chapter 54 Schedule to CETA. Physical verification a stock lying in the appellants unit revealed that it did not tally with the bank balance. On being asked about the shortages, Shri K.M. Nair Manager-cum Authorized signatory of the mills stated that they had not made the entry of prod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der Section 11AB, confiscated the plant and machinery and allowed it to be redeemed on payment of a fine of Rs. 50 lakhs imposed a penalty of Rs. 10 lakhs on the Director of the Company and imposed a penalty of Ks. 2.5 lakhs on the Manager-cum-authorized signatory under Rule 209A of the Central Excise Rules. Hence the appeals. 2. Heard both sides. 3. The ld. Advocate while admitting that there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... chinery etc. the id. Advocate pleaded that in view of the fact that entire duty is deposited even before the adjudication proceedings were, concluded, penal action to confiscate plant and machinery is not called for. With regard to penalties imposed on the individuals he pleaded that the impugned order does not hold that the goods supposed to have been removed without payment of duty are liable to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Excise Duty (Goods of Special importance) Act. The appellants have in any case deposited the entire amount of duty and this facts calls for a lenient view. We hold that a penalty of Ks. 12 lakhs on the company is sufficient and would meet the ends of justice. We accordingly reduce the penalty to Rs. 12 lakhs under Rule 173Q of the Central Excise Rules. In so far as the interest demanded unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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