2009 (6) TMI 105

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..... Bank guarantee Such security may be furnished within four weeks from today.
Dilip Gupta, J. [Order]. -This Appeal has been filed by M/s. Shri Ram Garments & Accessories under Section 35(G) of the Central Excise Act, 1944 against the order dated 1st April, 2009 passed by the Customs, Excise & Service Tax Appellate Tribunal, New Delhi (hereinafter referred to as the "Appellate Tribunal") on the stay application filed by the appellant along with the Central Excise Appeal which Appeal had been filed against the duty and penalty imposed by the Commissioner of Central Excise, Meerut. 2. The appellant is a Private Limited Company having a manufacturing unit for manufacture of Slide Fasteners. The Commissioner of Central Excise by the order d .....

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..... recting pre-deposit. Therefore, following the ratio laid down by Apex Court in the case of Dunlop India Ltd. - 1985 (19) E.L.T. 22 (S.C.) and Benera Valve - 2006 (204) E.L.T. 513 (S.C.), it is directed that the appellant shall make pre-deposit of Rs. 30.00/- (thirty lakhs) within four weeks from the date of pronouncement of this order and make compliance on 9-7-2009. If such direction is carried out, realization of balance demand shall be stayed till disposal of appeal." 3. Sri M.P. Devnath, learned counsel appearing for the appellant submitted that not only has the appellant a strong prima facie case but pre-deposit of such a huge amount will cause undue hardship to the appellant Company which in fact does not have a sound financial posit .....

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..... a certified copy of this order without asking for any deposit. We direct accordingly." 7. In Swastik Fragrances (supra), a Division Bench of this Court also disposed of the petition with a direction that the petitioner may furnish security which may be other than cash or Bank guarantee. In view of the aforesaid decisions of this Court and in view of the facts and circumstances of the case as enumerated by the learned counsel for the appellant, the interim order dated 1st April, 2009 passed by the Appellate Tribunal is modified to the extent that instead of depositing Rs. 30 lakhs in cash, the appellant may furnish security of Rs. 30 lakhs which security may be other than cash or Bank guarantee Such security may be furnished within four wee .....

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