Predeposit waiver and stay of recovery granted where existing bank guarantee exceeded the remaining adjudged dues.

Predeposit of adjudged duty and penalties was waived where the vehicle had been cleared against a bank guarantee exceeding the adjudged dues and part payment had already been made. The Tribunal treated the remaining balance as lower than the security already furnished and found interim protection appropriate pending the appeal. Recovery of the balance duty and penalties was stayed.

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Issues: Whether predeposit of the adjudged duty and penalties should be waived and recovery stayed pending disposal of the appeal.

Analysis: The vehicle had been cleared on execution of a bank guarantee larger than the adjudged dues and part payment had already been made. On that basis, the Tribunal found that the amount remaining due was lower than the security already furnished, making it appropriate to grant interim protection.

Conclusion: Predeposit was waived and recovery of the penalties and the balance duty was stayed.

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