9911796707
TMI Blog2002 (9) TMI 129X X X X Extracts X X X X X X X X Extracts X X X X ..... urt directed the Respondents to deposit the amount in Court with liberty to the Petitioner to withdraw the same on furnish 100% bank guarantee. 3.When the petition came up for final hearing after 12 years, Counsel for the Petitioner sought to withdraw the petition in the light of the Apex Court Judgment in the case of Mafatlal Industries Ltd. v. Union of India, 1997 (89) E.L.T. 247 (S.C.) and Porcelain Electrical Mfg. Co. v. Collector of C. Ex., New Delhi, 1998 (98) E.L.T. 583 (S.C.), as the issues involved in the petition have been squarely answered by the Apex Court against the Petitioner. This petition for the reasons recorded in the above Judgments has got to be dismissed as withdrawn. 4.While dismissing this petition as withdrawn, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the aforesaid F.D.R. amount of Rs. 12,51,560/-. The interest earned thereon appears to have been from 6-3-1991 to 6-3-2002 in the sum of Rs. 15,53,065.70 @ 15% p.a. is confirmed by the learned Counsel appearing for the Petitioner on the enquiry made by the Court. 8.As indicated hereinabove, even according to the Petitioner, the petition cannot succeed in the light of the decision of the Apex Court referred to hereinabove. It is pertinent to note that originally the duty was paid without any protest and in the ordinary course, the duty element must have been passed on by the Petitioner to the consumer. Even assuming that the same is not passed on to the consumer, once it is held that the Petitioner is not entitled to the refund, then the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Prothonotary to encash the said bank guarantee immediately and pay the amount so realised to the revenue. The Petitioner shall pay interest. As regards the interest on Rs. 12,51,460/- @ 12% from 6-3-1991 till 24-9-2002 to the Respondents within 6 weeks from today. The Petitioner is present in person in the Court. He has taken note of this order/Judgment dictated in the open Court. In the event of failure on the part of the Petitioner to deposit the amount as ordered herein with the Revenue, in that event the Revenue shall be entitled to recover the same by initiating appropriate recovery proceedings for the recovery of interest amount by taking coercive steps against the Petitioner by following due process of law. 11.The submissions a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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