9911796707
TMI Blog2016 (9) TMI 1091X X X X Extracts X X X X X X X X Extracts X X X X ..... ry interim relief - Held that: - When the encashment is by the authorities under the Foreign Trade Act, 1992 and the Central Government, no reason seen for the apprehension on the part of the petitioner that in the event they succeed, the amount would not be returned back by the authorities. The Government and such competent authorities can encash the bank guarantee - stay of interim order rejecte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ition of penalty. The settled principle that the Government does not survive on bank guarantee would not be applicable for this is not an issue regarding payment of taxes. Therefore, the ad-interim order be continued and should remain operative till the hearing and final disposal of the writ petition. 4) On the other hand, it is submitted that there is an order passed by the appellate authority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have considered the legality and validity of imposition of a condition. Their findings are that given such a condition, the same was binding on the petitioner. That having not been complied with and the prima facie conclusion being of fraud and malafides on the part of the petitioner, we do not think that the petitioner is entitled to an equitable and discretionary interim relief. The petitioner h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rified is that the Government and such competent authorities can encash the bank guarantee. When the encashment is by the authorities under the Foreign Trade Act, 1992 and the Central Government, we do not see any reason for the apprehension on the part of the petitioner that in the event they succeed, the amount would not be returned back by the authorities. The request is, therefore, rejected. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
