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TMI Blog2015 (12) TMI 1433X X X X Extracts X X X X X X X X Extracts X X X X ..... n fine in lieu of confiscation. In totality of the facts of the case, we would adopt sum of ₹ 20 crores in all which would safeguard the interest of the revenue. In other words, as long as the petitioner offers full security for such sum, the permission for sale of the aircraft should be granted. - petitioner has already provided the bank guarantee of ₹ 10 crores to the department in addition to bond of ₹ 30 crores. The first condition would therefore be that these guarantees would be kept alive till the disposal of the show cause proceedings. - Petition disposed of. - Special Civil Application No. 11783 of 2015 - - - Dated:- 2-12-2015 - Akil Kureshi And Mohinder Pal, JJ. For the Appellant : Mr S I Nanavati, Sr Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... show cause notice proceedings under call book on account of pending SLP's before the Supreme Court. As a result, there is no worthwhile progress in such proceeding for over 5 years. In the meantime, the petitioner is suffering irreparable loss since the market value of the aircraft would decrease over a period of time. The petitioner also has to incur heavy demurrage charges. The petitioner had, therefore, requested for permission to sell the aircraft on some reasonable conditions. 5. On 6.11.2015, Division Bench of this Court passed detailed order recording the facts and concerns of the petitioner. It was noted that the petitioner was incurring expenditure of ₹ 50 lacs every month for maintenance, parking and other charges ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount is in excess of amount at (1) above, the excess amount shall be further secured by another BG which shall be furnished within 2 weeks of completing the sale / receipt of sale consideration. 3. All BG furnished shall be kept alive till the completion of the adjudication proceedings . 7. Learned advocate for the petitioner in response to such communication submitted that the entire issue has arisen since the respondents are due to their own reasons are not willing to proceed with the show cause notice hearing. The petitioner has always been ready and willing to proceed further with such proceedings so that the issues can be finalized. On account of delay caused by the department in disposing the show cause notice, the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case, we would adopt sum of ₹ 20 crores in all which would safeguard the interest of the revenue. In other words, as long as the petitioner offers full security for such sum, the permission for sale of the aircraft should be granted. 10. We are informed that the petitioner has already provided the bank guarantee of ₹ 10 crores to the department in addition to bond of ₹ 30 crores. The first condition would therefore be that these guarantees would be kept alive till the disposal of the show cause proceedings. 11. Subject to above, the condition contained in the said communication dated 23.11.2015, would be modified by providing that for the remaining sum of ₹ 10 crores, the petitioner would provide additional ..... X X X X Extracts X X X X X X X X Extracts X X X X
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