2006 (2) TMI 314

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.... the Appellant. Shri K.S. Bhatt, SDR, for the Respondent. [Order per : S.L. Peeran, Member (J) (Oral)]. - The applicants are required to pre-deposit duty amount of Rs. 28,71,499/- and like sum as penalty besides personal penalties. The applicant M/s. Vaigai Thread Processors Pvt. Ltd. had taken over one of the erstwhile units of M/s. Madura Coats Ltd., during 1994. They were required to p....

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....and they have been declared so by the BIFR. On these grounds, the learned Counsel submits that the appellants have made out a strong case in their favour both on merits, on time bar and on financial hardship and hence seeks for complete waiver in the matter. 2. The learned SDR submits that in terms of the Apex Court judgment rendered in Ujagar Prints case, all expenses shown in the Balance....