2020 (4) TMI 48

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....5489 of 2006 - -<br>Customs<br>Mr. Justice C. Saravanan For the Petitioner : Mr.S.Murugappan For the R1 to R3 : M/s.S.Seethalakshmi Standing Counsel For the R4 : Mr.J.Madana Gopal SCGSC ORDER The petitioner is aggrieved by the impugned order dated 02.03.2006 passed by the 1st respondent settlement commission. 2.By the impugned order, the settlement commission has settled the case....

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....etitioner had executed bond and had undertaken to pay an interest at 24% per annum in case of failure to discharge export obligation. 7.There was a failure on the part of the petitioner to discharge the export obligation and therefore, the 2nd respondent issued a demand cum Show Cause Notice dated 05.10.2001 and called upon the petitioner to produce proof of discharge of export obligation and o....

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....thin the aforesaid extended period and therefore applied once again. 12.Meanwhile, the office of the 3rd respondent called upon the petitioner to produce export obligation discharge certificate within 15 days from date of receipt of the letter, failing which, the petitioner was called upon to pay customs duty and interested at 15%. 13.It is in this background, the petitioner approached the 1....

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....oner had imported capital goods under the EPCG scheme read with Notification No.28/97-Cus dated 01.04.1997. 18.The notification contemplates that in the event an importer failing to fulfil condition, the importer should pay not only the customs duty foregone but also interest at 24% per annum. 19.The Settlement Commission has exercised the discretion vested with it and has reduced the intere....