https://www.taxtmi.com/caselaws?id=47678 The court ruled in favor of the petitioner, allowing the encashment of bank guarantees worth Rs. 72.50 Crores to secure revenue interests while safeguarding the respondent's interests. The court emphasized the need to demonstrate a prima facie case on merits and addressed the distinction between commercial and statutory bank guarantees. The order permitted encashment with the condition of refund if the appeal favored the respondent. The matter was scheduled for final hearing on 1st July 2002, with a 3-week stay for the respondent to appeal to the Apex Court. en-us Tue, 26 Mar 2002 00:00:00 +0530 Fri, 30 Jul 2010 12:28:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47678 The court ruled in favor of the petitioner, allowing the encashment of bank guarantees worth Rs. 72.50 Crores to secure revenue interests while safeguarding the respondent's interests. The court emphasized the need to demonstrate a prima facie case on merits and addressed the distinction between commercial and statutory bank guarantees. The order permitted encashment with the condition of refund if the appeal favored the respondent. The matter was scheduled for final hearing on 1st July 2002, with a 3-week stay for the respondent to appeal to the Apex Court. Case-Laws Customs Tue, 26 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47678