2001 (8) TMI 1462

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ground of strong prima facie case and the balance of the convenience in their favour as well as financial difficulties in pre depositing the amount of penalty as the business of the appellant's firm has been badly shattered. 2. Dr. Shamusuddin on behalf of the respondents submitted that the evidence said to be relied upon by the appellant was not adduced in the adjudication proceedings and therefore, the case should be remanded back to the adjudication officer for re-adjudication. 3. In the facts and the circumstances of the case as well as the amount of penalty involved, I do not consider it just and proper to remand the case back to the Adjudication Officer for re-adjudication and therefore, dispense with the pre deposit of the penalty ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....o their bank as early as possible. Reference in this regard is made to the buyer's letters dated 15-4-1998, 6-5-1998, 24-6-1998 and 11-8-1998 which are pages 9 to 12 of the appellant's Paper Book. The appellant in turn sent repeated letters to their bankers for necessary action. Copies of the appellant's letter dated 11-11-1997, 28-6-1998, 28-4-1998, 7-5-1998, 11-10-1998, 25-6-1998, 28-6-1998, 12-8-1998 are at pages 13 to 22 of the appellant's Paper Book respectively. It appears that the bank insisted on fresh ECGC coverage as the buyer was new one. The appellant has also applied to Export Credit Guarantee Corporation of India Ltd. but the necessary coverage could not be obtained as that corporation was unable to have necessary report from ....