Interim export without bank guarantee allowed on bond equal to declared value, subject to final customs adjudication.

Interim export of goods was permitted where the petitioner furnished a bond equal to the declared value, and the Court dispensed with any bank guarantee. The order treated valuation and examination of the goods as matters requiring consideration under Sections 17 and 18 of the Customs Act, 1962, but held that, on a prima facie basis, export could proceed pending the respondents' decision. The export benefits were kept subject to the final adjudication of the matter.

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Issues: Whether the petitioner could be permitted to export the goods on furnishing a bond equal to the declared value without furnishing a bank guarantee, pending the respondents' decision under the Customs Act, 1962.

Analysis: The order records a prima facie view that the valuation and examination of the goods required consideration under Sections 17 and 18 of the Customs Act, 1962. Since the goods were to be exported and the petitioner was willing to furnish a bond equal to the declared value, the Court considered that interim export could be allowed without insisting upon a bank guarantee. The export benefits were kept subject to the final decision in the matter.

Conclusion: The petitioner was permitted to export the goods on furnishing a bond equal to the declared value, and no bank guarantee was required.

Ratio Decidendi: Where goods are sought to be exported and the petitioner furnishes a bond equal to the declared value, insistence on a bank guarantee may be dispensed with as an interim measure, with the export benefits kept subject to the final adjudication.

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