TaxTMI 
TaxTMI 
2007 (3) TMI 389
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.... machinery or capital goods from the bonded warehouse of the Company in view of the said goods having been confiscated by the Applicant by his order dated 16-1-2002; (b)That the Official Liquidator (Respondent No. 1 herein) be directed to hand-over possession forthwith of the capital goods in the said Company's bonded warehouse; (c)That the Centurion Bank (Respondent No. 2) be directed not to sell or dispose of any of the goods which has taken possession of from the Respondent No. 1 pursuant to the order dated 29-9-2003 and to hand-over the same to the Applicant; (d)That the Centurion Bank (Respondent No. 2) be declared liable to make good the value of the confiscated goods if the same have been sold or disposed of by the Respondent No. ....
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....lakhs. The applicant has, therefore, averred that on 16-1-2002 the title to the goods vested with the Union of India being the date on which the order was issued. The Deputy Commissioner by a letter dated 25-6-2001 has lodged a claim with the Official Liquidator and an affidavit by way of proof of debt dated 30-5-2002 has also been filed. 4. On 29-9-2003 an order was passed by the Company Judge permitting the second respondent which is the Centurion Bank Ltd. to remove certain goods, which according to the Bank, belonged to it subject to the payment of security charges. In the Company Application, it has been pointed out that before the order of this Court was passed, the title to the goods had vested with the Union of India on 16-1-2002. ....
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....default. The Company made the payments of the instalments prescribed under the Consent Terms up to 28-2-1998. Upon default, on 18-10-1999 the Court Receiver was directed to take forcible possession. An order of winding up was passed against the Company on 15-2-2000 and the Official Liquidator was appointed as Liquidator in respect of the business and assets of the Company. 8. An order of confiscation was passed in exercise of the powers conferred under the Central Excise Act and Customs Act on 16-1-2002. Prior to the passing of the order, the plant and machinery was custodia legis since February, 1998 when the Court Receiver came to be appointed as Receiver. A consent decree was passed on 22-9-1997 and upon the default of the Company in pa....