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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Bond Ensures Compliance with Excise Duty Rules; Security for Provisional Assessment Under Rule 7 of Central Excise Rules 2001</h1> This a General Bond with surety or security for the provisional assessment of goods subject to excise duty under Rule 7 of the Central Excise (No. 2) Rules, 2001. The obligor and surety are bound to the President of India for a specified sum, ensuring compliance with excise rules and payment of duties. The bond remains valid unless all conditions are met, including the payment of excise duties and other charges. The bond's liability is unaffected by any government actions, and the President may recover losses from the security deposit if necessary. The bond is executed under government orders for public interest.
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