2002 (2) TMI 114

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....wahar Lal Gupta, J. (Oral)]. - On January 23, 2001 the Commissioner (Adjudication), Central Excise, confirmed the demand for the levy of Excise Duty of Rs. 2,52,77,940/- against Petitioner No. 1. He further ordered the confiscation of 84990 kilograms of Polyester chips valued at Rs. 55,72,450/-. Option for redemption on payment of fine of Rs. 20 lacs as well as the Central Excise Duty was also giv....

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....rial facts were not noticed. Consequently, applications for rectification were filed. These were also dismissed. Copy of the order passed on the rectification petitions is at Annexure P-2 with the writ petition. The petitioners pray that the orders at Annexures P-1 and P-2 be quashed and that the Tribunal be directed to hear their appeals without insisting upon the pre-deposit. 3.In response to....

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....s. 10 lacs. We are passing this order after noticing the factual position regarding the cash flow of Petitioner No. 1 as presented by the Counsel before the Bench. It is taken on record as Mark 'A'. The document shows that Petitioner No. 1 has a present Bank Balance of Rs. 12.21 lacs. Since the matter has to be finally decided by the Tribunal, we are not making any comment on the merits of the con....