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of <h1>Supreme Court enhances bank guarantee for provisional release of goods under Customs Act</h1> <h3>ADDITIONAL DIRECTOR GENERAL (ADJUDICATION) Versus M/s ITS MY NAME PVT LTD</h3> The Supreme Court addressed the issue of provisional release of goods under Section 110A of the Customs Act, 1962. The Court decided to enhance the bank ... Provisional release of goods - Section 110A of the Customs Act, 1962 - High Court has directed provisional release, subject to the respondent furnishing a bank guarantee quantified at ₹ 10 crores, besides other incidental conditions - HELD THAT:- The quantum of the bank guarantee which has been directed to be furnished by the High Court, should be enhanced from ₹ 10 crores to ₹ 15 crores. Mr Salve has stated on instructions that he has no objection to an enhancement of the quantum of the bank guarantee. The order of the High Court is modified by directing that the quantum of the bank guarantee shall stand enhanced to ₹ 15 crores. The other conditions which have been imposed by the High Court shall continue to govern - SLP disposed off. Issues:Provisional release of goods under Section 110A of the Customs Act, 1962. Enhancement of bank guarantee from Rs. 10 crores to Rs. 15 crores.Analysis:The Supreme Court addressed the issue arising from an order of the Delhi High Court regarding the provisional release of goods under Section 110A of the Customs Act, 1962. The Tribunal had set aside the competent authority's decision and imposed conditions. The High Court, in its order, directed provisional release upon the respondent furnishing a bank guarantee of Rs. 10 crores. During the hearing, both parties were represented by their respective counsels, and the Court considered the submissions made by them.The Court, after due consideration, decided to enhance the bank guarantee from Rs. 10 crores to Rs. 15 crores. The respondent's senior counsel had no objection to this enhancement. Therefore, the Court modified the High Court's order accordingly, increasing the bank guarantee amount. It was clarified that the other conditions imposed by the High Court would remain in force despite this modification.Consequently, the Special Leave Petition was disposed of by the Court, and any pending applications were also disposed of as a result of this judgment. The decision to enhance the bank guarantee amount was a crucial aspect of the judgment, ensuring compliance with the conditions set by the Court for the provisional release of the goods under the Customs Act.
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