2014 (5) TMI 637

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....l Excise, Dn.I Vapi. The issue involved is regarding encashment of Bank Guarantee and enforcement of B-17 bond executed by the appellant. It was ordered by the adjudicating authority that Bank Guarantee executed by the appellant and B-17 bond are enforced for recoveries which has been upheld by the first appellate authority. 2. Brief facts of the case are that the appellant took over the management and control of M/s Ashai Fibres Ltd (100% EOU). The appellant was granted permission to set up a 100% EOU by the Development Commissioner, vide Letter of Permission (LOP) No.KASEZ/100% EOU/11/139/93-94, dt.28.02.2005. Development Commissioner vide LOP dt.28.02.2005, permitted all the liabilities and assets with all raw materials and capital go....

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.... unit. Instead, in the month of July 2007, appellant requested to shift the entire unit to a new location. The premises was visited and Panchnama dt.04.12.2008 was drawn. During the visit of the premises, it was found that the premises were demolished and machinery were dismantled for construction of a shopping mall. Value of the capital goods installed in the unit at the time of taking over charge could not be ascertained by the Department due to non-production of records by the appellant. As the appellant did not follow the condition of license dt.01.03.2006, a show cause notice dt.22.01.2013 was issued to the appellant. The said SCN was adjudicated vide impugned OIO, wherein the adjudicating authority has ordered to encash the Bank Guara....