2001 (8) TMI 132

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... demand for Rs. 4,78,37,028/- by way of payment of excise duty. A penalty of 100%, viz. Rs. 4,78,37,028/- was also imposed. Interest at the rate of 20% was also levied. Still further, an additional penalty of Rs. 30,00,000/- each was imposed on the two partners, viz. petitioner Nos. 2 and 3. Another penalty of Rs. 1,00,04,000/- was also imposed. 2.Aggrieved by the order, the petitioners approache .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n statement has been filed. 4.Counsels for the parties have been heard. 5.On April 5, 2001 the case was posted before a Bench of this Court consisting of Hon'ble Mr. Justice G.S. Singhvi and Hon'ble Mr. Justice Nirmal Singh. Their Lordships were pleased to direct petitioner No. 1 to deposit Rs. 50 lacs. We are informed by the Counsel for the parties that the requisite deposit has been made. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X