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<h1>Waiver of Pre-deposit Granted for Company in Financial Crisis</h1> The Appellate Tribunal CESTAT, New Delhi, granted waiver of pre-deposit of duty and penalty for a company declared as sick under BIFR due to deep ... Stay/Dispensation of pre-deposit - Demand against sick company The Appellate Tribunal CESTAT, New Delhi, granted waiver of pre-deposit of duty and penalty for a company declared as sick under BIFR due to deep financial crisis. The amount involved was Rs. 34,620/- and Rs. 1,62,050/-. Balance sheet showed a net loss of Rs. 57.10 crores. Recovery of duty and penalty stayed till appeal disposal.
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