2001 (12) TMI 757

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....t. Shri K.M. Mondal, Consultant, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. - Duty demand of Rs. 275,34,45,737/- has been confirmed against the applicants herein, holding that items of equipments, machinery etc. imported for Liquefied Natural Gas (hereinafter referred to as LNG) facility by the applicants are not entitled to assessment under Tariff Item 9801.00(3) a....

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....Bank of America) issued a letter to the applicants informing them of the various defaults as a result of which the Bank of America assumed full control and supervision of all accounts of the applicants, thereby making it impossible for the applicants to make any payment without prior approval of the Bank of America, that in May, 2001, the MSEB gave a notice to the applicants to rescind the agreeme....