2004 (12) TMI 469

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....rma, JDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. -  M/s. Surya Industrial Corporation were directed by the Tribunal vide Stay Order No. S/392/2004-NB(C), dated 28-8-2004 to deposit a sum of Rs. 50,000/- out of the total demand of Central Excise duty of Rs. 1,23,637.83 confirmed and penalty of Rs. 10,000/- imposed on them. When the matter came up for reporting compli....

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....nd due notice was sent to them. However, when the matter was called today, no one was present on behalf of the applicants. We, therefore, heard Shri H.C. Verma, learned D.R. and considered the miscellaneous application filed by the applicants. 2. We observe that the Tribunal, after considering the submissions at the time of hearing the Stay application, had found that the applicants had no....

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.... said judgment that "Section 22 of the Sick Industries Act, provides relief in regard to the proceedings which relate to (a) winding up of the industrial company; (b) execution, distress or the like against any of the properties of the industrial company; (c) the appointment of a receiver in respect thereof; and (d) proceeding in regard to suit for recovery of money or for the enforcement of any s....