1993 (9) TMI 121

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....ngh, J.]. - Heard Shri Rakesh Ranjan Agarwal, Counsel for the petitioner and Shri Umesh Narain Sharma, learned Senior Standing Counsel appearing for the Union of India. It is alleged that the petitioner is a holder of L-4 licence who is engaged in the manufacture of Duplex Board falling under Chapter sub-heading 4805.30 of the Excise Tariff Schedule in its factory premises at Rania, Kanpur Dehat. ....

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....tition. 2. Feeling aggrieved against the order of the Collector, Central Excise, Kanpur, the petitioner has filed an appeal before the Customs, Excise and Gold (Control) Appellate Tribunal, New Delhi under Section 35 of the Central Excises and Salt Act, 1944. During the pendency of the said appeal, the petitioner also filed an application for staying the operation of the order dated 14-10-1992 ....

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....trarily. From the perusal of the order of the Tribunal on the stay application, it is clear that the Tribunal after taking into account the financial hardship that may be caused to the petitioner reduced the amount from Rs. 22,67,723/- to 12,00,000/- towards duty as well as the penalty from, 50,00,000/- to Rs. 5,00,000/-. 4. In view of the said fact, we are unable to accept the contention raise....