Precedent-controlled excise duty dispute dismissed, with time granted for balance payment and partial bank guarantee encashment.

The writ petitions were dismissed as governed by the earlier ruling in Union of India v. Modi Rubber Ltd., with the court granting time for payment of the balance excise duty arrears and permitting encashment of the bank guarantee against 50% of the arrears. The disposition turned on the prior precedent, and the practical effect was to require payment of the remaining dues while allowing partial recovery through the security furnished.

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Outcome: The writ petitions were dismissed as covered by the earlier decision in Union of India v. Modi Rubber Ltd., and time was granted for payment of the balance arrears of excise duty with liberty to encash the bank guarantee towards 50% of the arrears.

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