2018 (3) TMI 1145

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.... Biotics Limited (KMBL), which stood merged under a scheme of amalgamation sanctioned by the High Court of Bombay in Company Petition No. 1 of 2009 on 24.3.2009 and the said KMBL stood merged with M/s Emmellen Biotech Pharmaceuticals Limited (EBPL and further changed its name to Embio Limited (EL), the present petitioner. 2. The case has an erstwhile history of litigatio n in this Court where the earlier writ petition filed by the earlier Company challenging the very same order of the ADGFT in W.P.No.2437/2007 (KMBL vs. DGFT & OTHERS) came to be allowed by a learned Single Judge of this Court on 7.1.2010. However, the respondent - DGFT preferred a Writ Appeal in W.A.No.1229/2010 (DGFT vs. KMBL) and during the course of the said Writ Appe....

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.... the case of petitioner - Company for waiver of the said fiscal penalty imposed upon the erstwhile company, KMBL. 5. These submissions are opposed by Mr. C.Shashikantha, learned Counsel for the Union of India, who submitted that the scheme of BIFR gave specific waivers in the Scheme sanctioned for KMBL in which only specific taxes and duties which were chargeable and had been brought to the notice of the BIFR vide Para-E of the said sanctioned Scheme by BIFR, under which, the Central Government dues to the extent of Rs. 4.05 Lakh as 'interest' dues of the Income-tax Department and 'Customs Duty' amounting to Rs. 33.30 lakh on account of non-fulfilment of export obligations and Rs. 44.40 lakh towards 'interest' accrued upto 31st May 2002 ....