2004 (3) TMI 518

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....K. Srivastava, JDR, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. - By Order No. C-I/496-497/WZB/2003, dated 24-2-2003, the Tribunal set aside the demands raised against Adani Exports Ltd. as time barred, and also set aside the penalties imposed upon the company as well as its director. As a result of this order, the bank guarantee furnished by the appellants for Rs. 55 lakh....

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....ur telephonic conversation on the above mentioned subject. The Bank Guarantee of Rs. 55 lakhs was executed by M/s. Adani Exports Ltd., Ahmedabad by way of Gujarat High Court's direction and was kept alive during the pendency of the appeal before the Hon'ble CEGAT. Subsequently, the said Bank Guarantee was ordered to be kept alive by the Hon'ble High Court of Bombay, Panaji Bench, Goa in reference....