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TMI Blog2018 (4) TMI 170X X X X Extracts X X X X X X X X Extracts X X X X ..... should be released provisionally to the petitioner on the express undertakings given to this court. Petition disposed off. - Writ Petition No. 3336 of 2018 - - - Dated:- 27-3-2018 - S.C. DHARMADHIKARI PRAKASH. D. NAIK, JJ. Mr. Prakash Shah i/b. M/s. PDS Legal for the petitioner. Mr. Pradeep S. Jetly for the respondents. P.C. :- 1. The petitioner impugns an interim order of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT). 2. By the order under challenge, the CESTAT has directed the petitioner to abide by the condition imposed on it. The condition imposed by the tribunal in the impugned order and which is challenged before us pertains to furnishing of a bank guarantee. The bank guarantee is of &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ermining the value of the vessel Sagar Fortune at ₹ 41.45 crores. The petitioner challenges this order on the ground that it imposes onerous, arbitrary and excessive condition. It is that order of the authority which was then questioned before the tribunal. Since the order under challenge is an interim order, a writ petition is held to be maintainable. 4. We extensively heard both sides on the earlier occasion. Mr. Jetly had argued before us that the petitioner was granted relief. The condition was modified and by directing it to furnish a bond of 100% of the estimated value i.e. ₹ 41.45 crores and furnishing a security in the form of a bank guarantee of ₹ 10 crores. The bank guarantee amount in the order-in-original ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ertaking of the petitioner that the subject seized vessel would be released to the petitioner only for the purpose of the fulfillment of their contractual obligation with the Oil and Natural Gas Corporation, the vessel will not be moved out of the jurisdiction of the Indian authorities/competent courts in India and that in the event there is an adjudication order passed by the competent authority, then, subject to the legal rights of the petitioner, they would abide by the same. Mr. Sridharan, on instructions of the petitioner's representative present in court, states that on or before 23rd March, 2018, an affidavit incorporating the express undertaking in the above terms would be filed in this court. A copy thereof will also be served ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other purpose without the permission of this Hon'ble Court; b. That the platform supply vessel 'Sagar Fortune' will not be taken out of the jurisdiction of the Indian authorities and Courts; and c. That the Petitioners, subject to such remedy, as may be available to the Petitioners in law including filing of appeal and seeking stay, shall abide by the adjudication order. 7. In the light of these undertakings, we are of the firm opinion that in the facts and circumstances of the case and only not to cause a breach of the contractual obligations as also to allow the petitioner to argue its case on merits as and when a show cause notice is issued, the seized vessel can be released. Each of these undertakings and repr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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