https://www.taxtmi.com/caselaws?id=325658 The Tribunal declined to restrain encashment of a bank guarantee furnished for provisional release of a vessel pending appeal. It noted that the vessel had already been adjudicated as confiscated with an option of redemption fine, and that the applicant continued to use and possess the vessel. On that basis, it found no case for invoking Rule 4 or Rule 41 of the CESTAT (Procedure) Rules to grant the requested relief. The application was dismissed. en-us Wed, 27 Jan 2016 00:00:00 +0530 Wed, 02 Nov 2016 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325658 The Tribunal declined to restrain encashment of a bank guarantee furnished for provisional release of a vessel pending appeal. It noted that the vessel had already been adjudicated as confiscated with an option of redemption fine, and that the applicant continued to use and possess the vessel. On that basis, it found no case for invoking Rule 4 or Rule 41 of the CESTAT (Procedure) Rules to grant the requested relief. The application was dismissed. Case-Laws Customs Wed, 27 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325658