2012 (1) TMI 174

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....dent. JUDGMENT Heard the learned Counsel for the appellant and the learned Counsel appearing for the second respondent. 2. This appeal is filed against the order of the Customs, Excise & Service Tax Appellate Tribunal, by which, the Tribunal on the applications for waiver of pre-deposit of duty of Customs of Rs. 2,46,16,126/- toy the applicants who are the company as well as Director....

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....rred. It is with that plea, pending appeal, against the order of authority, viz., Commissioner of Excise, applications for waiver came to be filed. 4. The Tribunal while considering the same, has taken note of the fact that the applicants company had imported plant, Machinery and chemicals for manufacture of calcined walls from various suppliers to Manufacture rapid wall products in India ....

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....ed the amounts to the appellants, has initiated recovery proceedings, under the SARFAESI Act and in fact, notice under Section 13(2) of the SARFAESI Act has been given and the same is pending. In such circumstances, it is the contention of the learned counsel for the appellants that imposition of payment of such a huge amount of Rs. 80 lakhs as pre-deposit will definitely cause hardship to the app....