1999 (6) TMI 38

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..... South Zonal Bench at Chennai are being assailed in this writ petition. Pending the appeal, the Tribunal directed the deposit of a sum of Rs. 25,00,000/- towards the disputed duty within three months and the pre-condition of deposit of tax and penalty has been waived subject to the fulfilment of the said condition. The petition for re-consideration of the said order made on the ground of financial .....

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..... any. If the position of the outstandings of the petitioner and the net assets as reflected in the balance sheet is taken into account, the financial predicament of the petitioner becomes amoly clear. The fact that the assessee is a sick industry is one of the considerations taken into account by the Supreme Court in Sangeroid Remedies Ltd. v. Union of India and Others, 1998 (103) E.L.T. 5 (S.C.) = .....

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..... tioner; otherwise, the interim relief would not have been granted to that extent. Of course, the mere existence of prima facie case by itself does not entitle the petitioner to get unconditional stay. Having due regard to all the relevant factors and the hardship that may be caused to the petitioner by denying the remedy of appeal, we consider it just and proper to modify the order so as to direct .....

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