Court Upholds Section 129 of CGST Act on Bank Guarantee Restraint, Protecting Respondents' Interests in Pending Adjudication.

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....Validity of Section 129 of the CGST Act - restraint on encashment of the Bank Guarantee - if accepted it will defeat the interest of the respondents who ordered release of the goods by securing the probable amount which may be due after the adjudication - there is no illegality, error or impropriety in the judgment of the learned Single Judge....