https://www.taxtmi.com/caselaws?id=402123 The High Court addressed a contempt petition for non-compliance with a CESTAT order on seized goods release. The Division Bench modified the order, requiring a Bank Guarantee of Rs. 10 crores for provisional release. The Supreme Court further increased the Bank Guarantee to Rs. 15 crores to prevent misuse. The Petitioner was instructed to furnish the enhanced Bank Guarantee for seized goods release. The court directed the Petitioner to comply with the Bank Guarantee requirement for provisional goods release, disposing of the contempt petition. en-us Mon, 21 Dec 2020 00:00:00 +0530 Fri, 28 May 2021 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402123 The High Court addressed a contempt petition for non-compliance with a CESTAT order on seized goods release. The Division Bench modified the order, requiring a Bank Guarantee of Rs. 10 crores for provisional release. The Supreme Court further increased the Bank Guarantee to Rs. 15 crores to prevent misuse. The Petitioner was instructed to furnish the enhanced Bank Guarantee for seized goods release. The court directed the Petitioner to comply with the Bank Guarantee requirement for provisional goods release, disposing of the contempt petition. Case-Laws Customs Mon, 21 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402123