2021 (11) TMI 204

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....e second respondent at Annexure-'K' and has also sought for setting aside the recovery notice dated 18.09.2018issued by the respondent no.3 at Annexure-'M' and the letter dated 18.09.2018 at Annexure-'N'. The petitioner has also sought for refund of Rs. 4,00,000/- realised by encashment of bank guarantee at Annexure-'N1'. 2. The petitioner submits that it has imported certain capital goods under the Export Promotion Capital Goods (EPCG) Scheme vide Notification No.102/2009-Cus dated 11.09.2009 and had also obtained clearance of the same. The assessable value of the capital goods was Rs. 91,11,494/- and benefit of duty that the petitioner had realised was Rs. 25,76,473/-. In accordance with the terms of the n....

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.... 58 dated 29.09.2016 filed with the Director General of Foreign Trade, Bengaluru. Accordingly, it was submitted that the export obligation was completed in the year 2013 and therefore, sale of capital goods in March, 2014 did not constitute violation of conditions present in the EPCG Notification No.102/2009 dated 11.09.2009. 6. It is further submitted that after its reply dated 30.06.2017, further notice came to be issued at Annexure-'M' pointing out non-fulfillment of conditions of bond executed to avail the benefit of EPCG Notification No.102/2009-Cus dated 11.09.2009. As is evident from Annexure-'M', bank guarantee has been invoked. Necessary communication to the bank authorities has been made as per the communication a....