2015 (12) TMI 1341

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.... the Respondent : Shri V K Singh, Special Counsel ORDER Per Ramesh Nair These applications for modification of stay order No. S/38-41/15/CB dated 9/12/2014 by which this Tribunal directed the applicant to make pre-deposit of Rs. 4.5 crore on or before 7/4/2015, thereafter applicant filed this application. 2. Shri. V.K. Jain, Ld. Counsel for the applicant submits that in the identical case the ....

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.... unconditional stay should be granted. He submits that in view of this, order for pre-deposit of Rs. 4.5 crores is not proper. He also submits that in number of identical cases this Tribunal has granted unconditional stay on the basis that the matter has been referred to the Larger Bench. Alternatively, he submits that subsequent to the stay order, Hon'ble Supreme Court in the case of SRF Ltd.....

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....epared to deposit 50% of the Rs. 1.19 crores. 3. Shri. V.K. Singh, Ld. Special Counsel appearing on behalf of the Revenue submits that if the applicant deposits 50% of Rs. 1.19 Crore, he has no objection in modification of stay. 3. We have carefully considered the submissions made by both sides. 4. As regard the prayer of the appellant that they were granted conditional stay despite the referen....