TaxTMI 
TaxTMI 
Format of bank guarantee to be taken from central excise assessees in case of clearances allowed in pursuance of orders of Court
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.... [From F. No. 214/3/89-CX.6] Government of India Central Board of Excise & Customs New Delhi Subject : Format of bank guarantee to be taken from central excise assessees in case of clearances allowed in pursuance of orders of Court. In view of the recommendations of the Public Accounts Committee in its 92nd Report and the 151st Report that bank guarantees filed for the differentia....
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....________having its head office at_________________ do hereby guarantee the payment of Rs._________(Rupees __________) to the President of India acting through the Collector of Central Excise______________(hereinafter referred to as 'the Central Government) in the circumstances subject to condition noted below : - Whereas, in Civil Miscellaneous Petition No._______ of_________ In Civil Petition ....
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....satisfaction of the Collector of Central Excise _______to the President of India, hereafter called the central Government for a sum of Rs.___________(Rupees ___________) and accordingly we, do as primary obliger and not merely as surety, hereby irrevocably, unconditionally and absolutely guarantee and convenient with the Central Government represented by Collector of Central Excise________and/or h....
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.... us (the bank) or our successor in interest from the liabilities under these presents. And it is hereby farther declared that notwithstanding anything contained herein before the liability of the Bank is restricted to the said sum of Rs.__________________). It is further declared that this is an unconditional guarantee and the liabilities of us (the bank) created herein shall not be discharged ....