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of <h1>Tribunal: Deposit Rs. 2 lakhs within 8 weeks for Modvat credit dispute</h1> The Tribunal ordered M/s. J.K. Synthetics to deposit Rs. 2 lakhs within eight weeks for Modvat credit dispute on caprolactum used in manufacturing nylon ... Stay/Dispensation of pre-deposit The judgment involves a dispute regarding Modvat credit taken by M/s. J.K. Synthetics for caprolactum used in manufacturing nylon chips. The issue is whether there was a loss of revenue to the government. The Tribunal directs the applicants to deposit Rs. 2 lakhs within eight weeks, and upon compliance, the detention of their goods shall be withdrawn.
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