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TMI Blog2016 (11) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... d by this Tribunal in Appeal No.58583/2013. 2. The ld. Counsel appearing for the appellant-petitioner, Mr. Alok Yadav, urges that there was no dispute pending before any Court or Tribunal regarding the ownership of the assets of this appellant which were leased out to one M/s Rathi Ispat Ltd., a Public Limited Company. This Tribunal had dismissed the appeal vide Final Order No.52366 dated 30.07.2015 observing that a civil dispute is pending before the Hon'ble Supreme Court as regards ownership of the assets of this appellant, as stated by Revenue that the matter is subjudice before Hon'ble Apex Court in Civil Appeal No.2196 of 2012. The Ld. Counsel have produced the copy of the Special Leave Petition pending before the Apex Court, and on p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner of their plant and machinery leased out to Rathi Ispat Ltd. and in operative part of the order, it was ordered that the claimant-Inox Air Pvt. Ltd. is entitled to remove the plant and equipment leased out to the respondent-Rathi Ispat Ltd., installed at respondent premises at Ispat Nagar, Ghaziabad, after 30 days notice to the respondent and that the respondent is directed to permit the claimant to dismantle the said plant and machinery and take back the same lying installed at their premises at Ispat Nagar, Ghaziabad without creating any hindrance. The order/Award further directed the respondent-Rathi Ispat Ltd. to pay principal sum of Rs. 2,44,57,950/- towards dues owed by Rathi Ispat Ltd. to Inox Air Pvt. Ltd., the claimant till Marc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... REV/CESTAT/1286/13/431, wherein it is stated and clarified that the Commissioner Central Excise, Ghaziabad vide Order dated 29.03.2007 has ordered confiscation of assets of RIL. It is further clarified that no formal order of attachment have been issued on the assets of Inox Air Product Ltd. lying in the premises of RIL. Secondly, it have been stated that regarding the assets of Inox Air Product Ltd. lying in the premises of RIL, the dispute regarding ownership of plant and machinery, is pending before the Apex Court in Civil Appeal No.2196 of 2012 filed by Punjab National Bank Vs. Union of India and others. It is further stated that the main issue in the Civil Appeal is related to first charge on the assets confiscated by the adjudicating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of Inox Air Product Ltd. lying in the premises of RIL. We have also examined and are satisfied that the issue of ownership of the assets of IAPL in the premises of the RIL, is not pending before any Court including the Apex Court in Civil Appeal No.2196 of 2012. We also hold that under these facts and circumstances, IAPL is entitled to remove their assets lying in the premises of RIL without any hindrance or restriction under any law. Accordingly, we direct the respondent-Commissioner to release the assets of IAPL lying in the premises of RIL forthwith. The appellants are, held, entitled to remove their assets lying in the premises of Rathi Ispat Ltd. 11. Thus, the Misc. Application is allowed and the final order dated 30.07.2015 i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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