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<h1>Tribunal denies cash deposit conversion to Bank Guarantees; cites lack of justification.</h1> The Appellate Tribunal CEGAT, Calcutta dismissed the appellant's plea to convert cash deposit into Bank Guarantees due to lack of justification, citing a ... Stay order - Modification of The Appellate Tribunal CEGAT, Calcutta dismissed the appellant's plea to convert cash deposit into Bank Guarantees due to lack of justification. The Tribunal cited a Supreme Court case stating that Governments do not run on Bank Guarantees. The appeals were dismissed for non-compliance with the Tribunal's direction.
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