2017 (6) TMI 1403

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..... ners Mr. V.Sridharan, Senior Counsel with Mr. Prakash Shah and Mr. J.S.Sanghavi i/b. PDS Legal, for the Respondent P.C.: 1. The department has assailed the order passed by the Settlement Commissioner. 2. The learned Counsel for the petitioner strenuously contends that the Commissioner has wrongly passed the order of appropriation. The amount deposited by the Responsive Industries Limited coul .....

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..... assed by the respective parties. There is nothing on record to even remotely suggest that the dues towards Responsive Industries Ltd. was more than Rs. 5 crores. It is also not disputed that Responsive Industries Ltd. has deposited Rs. 5 crores with the department. The amount which is lying in excess with the department was appropriated for the dues of the sister concern - Axiom Cordages Ltd. No p .....

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