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of <h1>India's Finance Ministry Mandates New Bond Format for Importers under Court Stay Orders; Ensures Duty Recovery Compliance.</h1> The circular issued by the Ministry of Finance, Government of India, outlines the format for a bond that importers must submit when goods are cleared under a court's stay order. The bond ensures that the differential duty becomes immediately recoverable once the stay is vacated or if the court's decision is unfavorable to the importer. The bond format, vetted by the Ministry of Law, is mandatory for all relevant cases and must be communicated to the trade and importers for compliance. The bond includes details such as the importer's obligations, conditions for payment, and procedures for recovery under the Customs Act, 1962.
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