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of <h1>Altered bank guarantee deemed invalid, company and directors face penalties for duty non-compliance.</h1> <h3>DAGA FIBRES & SYNTHETICS LTD. Versus COMMR. OF CUS., MUMBAI</h3> The Tribunal found that the altered bank guarantee presented by Daga Fibres & Synthetics Ltd. was not valid, directing the company to deposit the full ... Hearing - Adjournment - Stay/Dispensation of pre-deposit - EXIM - Appeal - Evidence Issues:- Waiver of deposit of Rs. 9,76,667 by Daga Fibres & Synthetics Ltd.- Penalty on Daga Fibres & Synthetics Ltd.- Penalties on Gulab S. Daga and Sushil Bafna.Analysis:The case involved applications for the waiver of a deposit by Daga Fibres & Synthetics Ltd., along with penalties imposed on the company and its directors. The Tribunal noted the absence of representation for the applicant and declined an adjournment request due to the Counsel's personal travels, proceeding to dispose of the stay application.Daga Fibres & Synthetics Ltd. had imported synthetic waste under a duty exemption notification, requiring a bond to be executed for the duty amount. It was discovered that the bank guarantee presented was altered to show an extended validity period. The company claimed a lower duty amount based on actual exports, supported by shipping bills submitted for the first time during the proceedings. However, the Tribunal found these documents to be new and not admissible, considering the violation of the bond condition and lack of evidence for financial hardship.The Tribunal concluded that the altered bank guarantee was not valid, directing the company to deposit the entire duty amount and each of the other two applicants to deposit 50% of the imposed penalties within a month. Upon compliance, the remaining penalty would be waived, and its recovery stayed until further notice.In summary, the judgment addressed the issues of deposit waiver, penalties on the company and its directors, highlighting the importance of compliance with duty exemption conditions and evidence requirements in such cases.
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