2008 (4) TMI 777

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..... titioner is aggrieved by the invocation of a bank guarantee dated 25th January, 2007. 2. It appears that the petitioner had exported certain mono-chrome monitor tubes for medical and industrial application. The foreign buyer did not find the tubes as per the requirements. The petitioner then imported these tubes to carry out repairs or necessary modifications so that they could meet the requ .....

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..... sum and with such authority as may be specified by the competent officer. The B-17 bond was submitted by the petitioner prior to the export. The competent authority appears to have later required the petitioner to furnish a bank guarantee after import of the goods. At that point of time, no protest was made by the petitioner about the requirement of furnishing a bank guarantee. 5. Learned c .....

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