https://www.taxtmi.com/caselaws?id=88788 Financial hardship was relied on to seek modification of an earlier stay order and variation of the pre-deposit condition. The applicants produced material showing reference to the Board for Industrial and Financial Reconstruction, an audit report describing the company as a sick industrial company, and financial statements reflecting substantial losses. However, the record also showed sales income and receivables, so complete inability to make any pre-deposit was not established. Partial modification was therefore considered justified, and the pre-deposit was revised to be met partly through reversal in the Modvat account and partly by cash payment. en-us Thu, 12 Mar 1998 00:00:00 +0530 Wed, 21 Sep 2011 13:00:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88788 Financial hardship was relied on to seek modification of an earlier stay order and variation of the pre-deposit condition. The applicants produced material showing reference to the Board for Industrial and Financial Reconstruction, an audit report describing the company as a sick industrial company, and financial statements reflecting substantial losses. However, the record also showed sales income and receivables, so complete inability to make any pre-deposit was not established. Partial modification was therefore considered justified, and the pre-deposit was revised to be met partly through reversal in the Modvat account and partly by cash payment. Case-Laws Central Excise Thu, 12 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88788