2010 (9) TMI 196

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s. Archana Wadhwa: The prayer in the application is to dispense with the condition of pre-deposit of Customs duty of Rs.1,00,86,677/- and Central Excise duty of Rs.55,253/- confirmed by the impugned order of the Commissioner. 2. After hearing both sides, we find that the appellant is a 100% EOU, set up in the year 1994 for manufacture and export of Ultra Fine Magnet Wire. As per the agreemen....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....96 is not found to be true as the Development Commissioner subsequently vide OIO No.5/2009-10, dt.30.9.09 has found that the unit could not achieve the stipulated export obligation/export performance during the period from 1.7.94 to 31.3.96 as the unit made exports to the extent of Rs.96.68 lakhs as against the stipulated export obligation of Rs.421.20 lakhs. In the said OIO, it is even held that ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hort than the exported performance, in the initial two years. Learned advocate also submits that they have filed the appeal against the order of Development Commissioner, which stands relied upon by the Commissioner. He submits that the appeal filed their-against is expected to be disposed off by adjudicating authority within a period of 6 months to 1 year. 5. As the main reason for the Commiss....