2015 (10) TMI 1349

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.... For the Petitioner : Shri J.P.Khaitan, Sr.Adv., Agnibesh Sengupta, Partha Banerjee, Adv.s For the Respondent : Shri S.Sharma, Commr.(AR) ORDER Per Dr. D.M. Misra. 1. This is an application seeking waiver of pre-deposit of duty of Rs. 5.59 Crores and equal amount of penalty and personal penalty of Rs. 20.00 Lakhs on Shri Aayush Rungta under Rule 26(1) of Central Excise Rules, 2002. 2. Shri J....

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....has no legal basis. Further he has submitted that even though the first statement was recorded in July 2007 the investigation continued till 2010 and no incriminating documents were recovered from their premises. Ld. Sr. Adv. further submitted that the total capital of the applicant as on 31.3.2014 is Rs. 52.00 Lakhs. He further submits that during the course of investigation they have deposited a....