Conditional waiver of pre-deposit granted, with partial duty deposit required and balance demand and penalty stayed.

Waiver of pre-deposit was partly granted by directing the applicants to deposit Rs. 20 lakhs towards duty within eight weeks. On compliance, the balance duty and the entire penalty were waived, and recovery remained stayed during the pendency of the appeal. The operative effect was conditional relief from pre-deposit, with the deposit requirement serving as the threshold for waiver of the remaining demand and penalty.

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Outcome: The application for waiver of pre-deposit was partly allowed. The applicants were directed to deposit Rs. 20 lakhs towards duty within eight weeks, and on such compliance, the balance duty and the entire penalty were waived and recovery remained stayed during the pendency of the appeal.

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