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TMI Blog2023 (10) TMI 899X X X X Extracts X X X X X X X X Extracts X X X X ..... a Ltd (ESIL). The appellant had imported certain scrap and paid duty thereon. However, later on, it was found that there was an excess of 1300 MTS as against declared quantity of 29307.318 metric tons. The said goods were confiscated under Section 111(m) of the Customs Act, and redemption fine of Rs.16.5 Lakhs, penalty of Rs. 3.5 Lakhs was imposed by original adjudicating authority under Section 112(a) of the Customs Act. The matter was challenged before the Commissioner (Appeals), and the Commissioner (Appeals) reduced the redemption fine from 16.5 to 5 Lakhs, and penalty from Rs. 3.5 Lakh to Rs. 1 Lakhs. In a similar situation in appellants own case, Tribunal in ARCELOR MITTAL NIPPON STEEL INDIA LIMITED VERSUS COMMISSIONER OF CENTRAL E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssioner (Appeals) reduced the redemption fine from 16.5 to 5 Lakhs, and penalty from Rs. 3.5 Lakh to Rs. 1 Lakhs. 3. Learned Counsel pointed out that the Essar Steel India Ltd (ESIL) opted for Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code, 2016 (IBC). The resolution plan dated 23.10.2018, filed by Arclo Mittal India Private Limited was approved by National Company Law Tribunal (NCLT) vide order dated 08.03.2019. The said decision of the NCLT was upheld by Hon ble Apex Court as reported in Committee of Creditors of Essar Steel India Ltd., Vs. Satish Kumar Gupta Ors. dated 15.11.2019 (2020 (8) SCC 531). In the said order all the claims including tax, interest, penalty etc., relating to the period pri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... paid duty thereon. However, later on, it was found that there was an excess of 1300 MTS as against declared quantity of 29307.318 metric tons. The said goods were confiscated under Section 111(m) of the Customs Act, and redemption fine of Rs.16.5 Lakhs, penalty of Rs. 3.5 Lakhs was imposed by original adjudicating authority under Section 112(a) of the Customs Act. The matter was challenged before the Commissioner (Appeals), and the Commissioner (Appeals) reduced the redemption fine from 16.5 to 5 Lakhs, and penalty from Rs. 3.5 Lakh to Rs. 1 Lakhs. 5.1 We find that in a similar situation in appellants own case, Tribunal vide Final Order No. A/11549/2023 has observed as follows: We have carefully considered the submissions made by b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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