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TMI Blog1993 (11) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... e is represented through a counsel. As the Appeal involves a short point, it is admitted and heard for final disposal. 2. This Appeal is preferred against the order dated 10th September, 1993, passed by the learned single Judge in W.P. No. 6373 of 1993. In the Writ Petition, the respondent herein sought for quashing the order dated 5-3-1993, passed by the Customs, Excise and Gold (Control) Appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e sheet of the petitioner company. As reflected in the provisional balance sheet, we note that more than Rs. 1.59 crores is due to the petitioner from sundry debtors and this is in addition to more than Rs. 15 lakhs shown under the asset column of the balance sheet as advance and deposits. We also take into account the admitted fact that the petitioner unit made a profit of about Rs. 13.9 lakhs af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner Coronation Litho Works (C.L.W.) and a penalty of Rs. 1 lakh imposed on petitioner Shri Nataraj Prabhu. During the course of the order the Tribunal has noticed that a sum of Rs. 25 lakhs is set apart towards depreciation and a sum of Rs. 1.59 crores is due to the respondent from sundry debtors. It is on the basis of these facts, the Tribunal appears to have directed the respondent to deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner-respondent to deposit a sum of Rs. 13 lakhs. Out of that sum, it has already deposited a sum of Rs. 7 lakhs. Therefore, it has to deposit the balance of Rs. 6 lakhs. For the remaining amount, as ordered by the Tribunal, namely, the sum of Rs. 7 lakhs, the respondent shall furnish security, which may be of immovable property, free from encumbrance with marketable title or bank guarantee, with ..... X X X X Extracts X X X X X X X X Extracts X X X X
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