1991 (11) TMI 59

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....pplication for waiver of pre-deposit of a duty of Rs. 14,58,530.46 p. and a penalty of Rs. 1 lakh levied on them by the Collector of Central Excise, Madurai, the second respondent herein. 2. After considering the case of the petitioners, the Tribunal directed the petitioners to make a pre-deposit of a sum of Rs. 7 lakhs. The Tribunal has decided that the issue with regard to the levy of duty ha....

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....osit. It is well settled by this Court while considering the question of levy of pre-deposit, the Tribunal has to take into account the legality and financial position of the company and also see whether any prima facie case has been made out by the petitioner. In my view, the Tribunal is not right in determining the outstandings as per the balance sheet of the petitioners' company and then order ....