2022 (3) TMI 955

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....cate : None ORDER: (Per Hon'ble Sri Justice Ujjal Bhuyan) Heard Mr. Radha Krishna, learned counsel appearing on behalf of Ms. Megha Rani Agarwal, learned counsel for the petitioner; Mr. T. Surya Karan Reddy, learned Additional Solicitor General of India assisted by Mr. B. Mukherjee, learned counsel for respondent Nos.1 and 2; and Mr. B. Narasimha Sarma, learned counsel for respondent No.3. ....

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....duty. 4. As per the seizure memo, the vehicle in question, imported under Bill of Entry dated 18.08.2017, had estimated market value of Rs. 1,20,00,000/-. 5. It appears that petitioner filed an application dated 22.10.2021 for provisional release of the seized vehicle under Section 110A of the Customs Act, 1962 (briefly, 'the Act' hereinafter). In the said application, reference was made to ....

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.... duty, fine and / or penalty as may be adjudged by the Adjudicating Authority, subject to appellate provisions under the Customs Act, 1962 as prescribed in para 5 of Circular No.35/2017-Customs dated 16.08.2017. 3. Bank Guarantee of Rs. 2,00,00,000/- (Rupees Two Crore only) should be executed with clause binding the issuing bank to keep it renewed and valid till final adjudication of the ....

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....his client has also agreed to the prima facie view expressed by the court except that instead of payment of entire duty amount in cash he may be permitted to furnish 50% thereof by way of bank guarantee. 9. Learned Additional Solicitor General of India has no objection to the submission made. 10. In view of above, the provisional release order dated 29.11.2021 is modified by striking off 'co....