2001 (5) TMI 64

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....tioner pursuant to the order passed by his Court on 10-4-1997. 2. On 20-1-1997, division Bench of this Court passed the order for deposit of Rs. 8 crores by the petitioner and further directed the petitioner to furnish bank guarantee in the sum of Rs. 4.50 crores to the satisfaction of Commissioner of Customs, Air Cargo Unit, New Delhi undertaking to pay the same in case the petition is u....

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....f penalty from June, 1994 to March, 1995 and interest of Rs. 1,04,59,037/- on delayed payment for the period from June, 1994 to February, 1996 and interest liability as had arisen up to 13th January, 1997. These amounts are indicated in annexure R-18." 3. As the petitioner/applicant could not furnish the bank guarantee in view of Section 46 of the FERA the petitioner had approached this C....

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....d by this Court, interest accrued on the said FDR not released as the same would ensure to the benefits of the respondents. 6. In view of the specific order passed by the Division Bench on 20-1-1997, inter alia, stating that the total amount due was Rs. 8,65,637.00/- on account of Inland Air Travel Tax and the additional liability which was fastened as per the Annexure R-18 filed by the r....