2007 (8) TMI 725

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.... (a) Whether the facts and circumstances of the case, the CESTAT was correct in confirming the demand of duty of Rs. 12,31,86,708/- and penalty of an equivalent amount? (b) Whether in the facts and circumstances of the case, the CESTAT was right in ordering confiscation of 10,631.39 cts. of diamond and imposing a redemption fine of Rs. 43 lakhs? (c) Whether in the facts and....

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....would be about Rs. 16 crores. On the other hand on behalf of the respondents, the learned counsel submits that considering the order against the appellants, the respondents should be properly secured and the petitioner shall be called upon to deposit the amount. (3) We have considered the various contentions urged On behalf of the parties. In our opinion, considering the strong prima facie....