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<h1>Supreme Court allows appeal, requires bank guarantee instead of penalty. No opinion on merits.</h1> The Supreme Court admitted the appeal and directed the appellant to furnish a bank guarantee of Rs. One lac instead of paying penalty, to be kept alive ... Remand - Effect on payment of penalty The Supreme Court admitted the appeal and directed the appellant to furnish a bank guarantee of Rs. One lac instead of paying penalty, to be kept alive during the case proceedings before the Adjudicating Authority. No opinion on the case merits was expressed. No costs were awarded.