2007 (6) TMI 344

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....High Speed Diesel Oil (HSD) imported by the appellant M/s. Adani Exports Ltd. with an option to them to redeem the same on payment of redemption fine of Rs. 75 lakhs. In addition, personal penalty of Rs. 25 lakhs had been imposed on them in terms of provisions of Sections 112(a)(ii) of the Customs Act, 1962. Personal penalty of various amounts have also been imposed upon other appellants in terms of Section 112 of Customs Act. 2. We have heard S/Shri J.C. Patel & W. Christian, learned Advocates appearing for appellants and Shri Samir Chitkara, learned SDR for the Revenue. 3. As per facts on record, M/s. Adani Exports Ltd. imported 5104.00 MT of HSD oil under the agency of M/s. Saheli Synthetics (P) Ltd., who is a 100% EOU. I....

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..... We find apart from the fact that M/s. Saheli Synthetics (P) Ltd. has not disputed having given a letter of authority to M/s. Adani Exports Ltd., and as such, it can't be concluded that the import was without any authority of law, we find that during the course of adjudication, appellants pleaded that in terms of provisions of Para 4.16 of the Import-Export Policy, any person is allowed to import goods other than prohibited goods and store them in private/public bonded warehouse. Such goods may subsequently be cleared from warehouse for home consumption against licence, wherever required and in terms of the policy. Subsequent to the seizure of the goods, the same were provisionally released and deposited in the private warehouse. As p....