2016 (9) TMI 28

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....Adv. for the respondents ORDER Challenging the order dated 18th February, 2015 passed by the Joint Director General of Foreign Trade, Kolkata under section 13 read with section 11 of the Foreign Trade (Development & Regulation) Act, 1992 imposing a penalty of Rs. 20,00,000/-, the petitioners presented an appeal under section 15 thereof. An application for waiver of pre-deposit made by the pe....

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.... relying on the Division Bench decision of the Bombay High Court reported in 1999 (111) E.L.T. 351 (Bom.) (Velcord Textiles vs. Union of India), that the order of the appellate authority should be set aside because it is absolutely silent on why the petitioners were not found entitled to complete waiver of pre-deposit amount. The second and third proviso to section 15(1) of the Act read as foll....

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....imposed on the petitioners. In the memorandum of appeal, the petitioners pleaded that the present financial condition of the petitioners is not such that they can deposit the penalty amount of Rs. 20,00,000/- and that failure on their part to make such pre-deposit would result in a meritorious appeal being thrown out at the threshold. The appellate order records consideration of the petitioners&#3....