Pre-deposit waiver for grave financial hardship was granted after proof of factory closure, losses, and lender attachment proceedings.

Severe financial hardship justified waiver of pre-deposit and stay of recovery where the appellant showed closure of the factory, substantial losses in the balance sheet, and lender proceedings to attach properties. Those facts established inability to deposit the adjudged duty and penalty at the interim stage, so the pre-deposit condition was waived and recovery stayed until disposal of the appeal.

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Issues: Whether the appellant was entitled to waiver of pre-deposit and stay of recovery of the demanded duty and penalty on account of grave financial hardship.

Analysis: The appellant placed material showing closure of the factory, substantial losses reflected in the balance sheet, and proceedings by lenders for attachment of properties. These circumstances established severe financial hardship and inability to deposit the adjudged amounts at the interim stage.

Conclusion: The condition of pre-deposit of duty and penalty was waived and recovery was stayed till disposal of the appeal.

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