2002 (10) TMI 552

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.... 12-12-2000 and Shri Pravinchandra Topiwala, Partner of M/s. M. M. Silk Mills, Surat on 18-4-2001. 2. The applicant was registered under the Central Excise Act, 1944 to manufacture to process man-made fabrics. Acting upon intelligence the officers of Surat-1 Commissionerate searched the factory premises of the applicant on 22-8-98. During the search, the shortage of 24,489.70 Mtrs. of processed MMF, valued at Rs. 4,84,635/- was found; similarly semi-finished fabrics of 61,296.25 LM, valued at Rs. 6,78,957/- available in factory, were found not entered into statutory records and therefore seized by the officers. The semi-finished fabrics, seized by the officers, were subsequently processed by the applicant and were released provision....

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....rds admitted amount of duty. For payment of the balance amount he requested for instalment facility. The matter was heard on 15-2-2001, and vide Interim Order passed on 23-2-2001, the applicant was directed by the Commission to submit list of his properties. 4. Applicant submitted list of properties alongwith valuation report of the same, vide letter dated 8-3-2001. Vide the Interim Order passed on 27-3-2001, the application was allowed to be proceeded with by the Commission, adjusting already paid amount of Rs. 3,33,311/- and directing the applicant to pay the balance amount of admitted duty in 7 instalments. The applicant was directed not to dispose off plant and machinery and other freehold land and property, without permission o....

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....onerate, Surat. 7. During the course of the final hearing, the applicant admitted the entire duty of Rs. 31,04,223/- as demanded in the show cause notice and prayed for appropriation of the payments made so far by the applicant. Applicant also sought adjustment of bank guarantee of Rs. 2,92,000/- encashed by the Revenue towards admitted duty liability. 8. The applicant also submitted that considering the poor financial position of the applicant company, they may be given instalment facility and be granted immunities from fine, penalty, interest, prosecution etc. as requested for in their applications before the Settlement Commission. 9. Revenue left it to Commission to decide on the issue of granting immunities. 1....