1998 (3) TMI 197

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....ent. [Order per : Justice U.L. Bhat, President]. -  Appellant in Appeal E/1371 has filed this miscellaneous application seeking modification of Stay Order No. 92-99/97-A passed on 9-9-1997, 1997 (96) E.L.T. 71 (Tribunal). By this order we directed the appellant M/s. Plus Cosmetics Pvt. Ltd. to deposit Rs. 48 lacs in three equal instalments payable on or before 1-12-1997, 1-3-1998 and 1-6-19....

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..... Balance sheet for the period 30-9-1997 was not available at the time of hearing of the stay application and has been prepared since then. It shows that "reserves" had come down to Rs. 38 lacs. Out of Rs. 38 lacs, Rs. 23 lacs represented the value of equipment and the balance amount is due to the applicant and the condition of the debtors is such that there is no possibility of recovering the amo....