2014 (10) TMI 861

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....Prasad, Member ORDER M/s. Chiral Biosciences Ltd., Mallapur, Hyderabad - 500 076 (hereinafter referred to as 'the applicant') filed an application along with 1. Shri L. Rameswar Reddy, Managing Director, 2. Shri G. Mdhusudhana Reddy, Assistant Manager (Central Excise), 3. Shri Dilip Kumar, Managing Director, M/s. Krishna Industries, Hyderabad, 4. Shri Ashish K. Muni, Partner, M/s. Aash Chemicals....

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....d in this office on 14-10-2014 & 21-10-2014 in respect of the proceedings initiated under Show Cause Notice F.No. INV/DGCEI/CHZU/CE/10/2013 //O.R. No. 17/2013//SCN No. 6/2014, dated 29-1-2014 issued by Additional Director General, DGCEI, Chennai answerable to the Commissioner of Central Excise, Hyderabad-III Commissionerate demanding Central Excise duty of Rs. 2,38,14,534/- along with appropriate ....

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....nts. They further submitted that they expect their Managing Director's release from detention in a month and would thereafter be in a position to make the balance payments. 4. As per Section 32F(1) the Settlement Commission, shall, within a period of fourteen days from the date of the notice, by an order allow the application to be proceeded with or reject the application as the case may be.....