2014 (1) TMI 424

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....Dr. D. M. Misra : These applications are filed for waiver of predeposit of penalty of Rs.5,18,436/- imposed on M/s Impex Ferro Tech. Ltd. under Section 11AC of the Central Excise Act, 1944 and penalty of Rs.5,18,436/ imposed on Mr. Virendra Kumar Jain, Director of the Applicant Company, under Section 26 of the Central Excise Rules, 2002. 2. At the outset, the ld. Authorised Representative of the....

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....r of the Company. 4. I find that the entire amount of duty has been paid during the course of investigation by the applicant, M/s Impex Ferro Tech. Ltd. and the same has not been disputed by the A.R. for the Department. Now, the applicant has made an offer to deposit an amount of Rs.2,50,000/- (Rupees two lakhs fifty thousand only) in addition to Rs.1.00 lakh already paid by them. The said offer ....