2016 (11) TMI 296

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....ri M.K. Mall, Asstt. Commissioner (AR), for the Respondent. ORDER [Order per : Anil Choudhary, Member (J)]. - Heard the ld. AR for the Revenue. 2.  The appellant M/s. Shirdi Industries Ltd. have filed the present misc. application for modification of stay order dated 21-4-2013 passed by this Tribunal directing the appellant to make a pre-deposit of Rs. 1.5 crores against adjudicated demand....

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....3132 of 2014 for modification of the stay order which was dismissed by this Tribunal vide order dated 17-7-2015. Against the said order, the appellant approached the Hon'ble Allahabad High Court in Central Excise Appeal No. 273/2015 alongwith defective No. 196/2013 and vide common order dated 29-10-2015, the Hon'ble High Court observed that the appellant-company have been declared as sick industri....

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.... matter, having considered the rival contention and in terms of the recent orders of the High Court, we find that the appellant-company is a sick company and further operating agency have been appointed on 15-9-2015 by BIFR and feasibility study is under progress. Accordingly, we modify the earlier stay order and grant full stay of the adjudication dues including interest and penalty till disposal....