https://www.taxtmi.com/caselaws?id=43488 The Division Bench held that the Bank guarantee should be immediately enforced by the Registry in favor of the Union of India, rejecting the petitioners' argument for a stay pending reassessment. The Bench emphasized that the petitioners' ongoing appeal against the Assistant Collector's order did not preclude the Union of India's right to enforce the Bank guarantee as directed by the Supreme Court. The petitioners were granted a three-week period to seek clarification from the Supreme Court, with encashment scheduled for a specific date unless otherwise directed. en-us Fri, 16 Oct 1992 00:00:00 +0530 Fri, 18 Jun 2010 12:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43488 The Division Bench held that the Bank guarantee should be immediately enforced by the Registry in favor of the Union of India, rejecting the petitioners' argument for a stay pending reassessment. The Bench emphasized that the petitioners' ongoing appeal against the Assistant Collector's order did not preclude the Union of India's right to enforce the Bank guarantee as directed by the Supreme Court. The petitioners were granted a three-week period to seek clarification from the Supreme Court, with encashment scheduled for a specific date unless otherwise directed. Case-Laws Central Excise Fri, 16 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43488