2014 (3) TMI 674

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.... For the Respondent : A. S. G. I.,Ramesh Chandra Shukla ORDER The petitioner is a government recognised Star Export House. On the basis of an export certificate for 2013-14 granted by the Apparel Export Promotion Counsel (AEPC), the petitioner has been granted an import entitlement of Rs.3.05 crores equivalent to 3% of the export performance. Accordingly, a certificate has been issued to the....

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....t of duty); (ii) Cash Security/Bank Guarantee for 100% of the Bond amount; (iii) Execution of ITC Bond for the determined value of imported goods to the tune of Rs.44,34,686/-; (iv) Cash Security/Bank Guarantee for 20% of the Bond amount." On behalf of the petitioner, it has been submitted that the conditions which have been imposed for provisional release of the goods requiring the pe....

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....ng the order of the adjudicating authority subject to the furnishing of a bond with such security and conditions as the adjudicating authority may require. Prima facie, at this stage the material on record would indicate that as against an export performance of Rs.101.99 crores for 2012-13, the petitioner has an import entitlement of Rs.3.05 crores for 2013-14 of which an amount of Rs.78.12 lac....

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....he consignment in question subject to the petitioner executing a bond for the entire differential duty and furnishing a bank guarantee of a nationalised bank to the satisfaction of the second respondent for an amount representing 30% of the differential duty. The guarantee shall be furnished to the satisfaction of the second respondent and shall be kept alive pending the disposal of the adjudicati....