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2000 (10) TMI 113
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....er (T)]. - The prayer in the Stay Petition is for dispensing with the condition of pre-deposit of the Central Excise Duty of Rs. 2,16,85,015.00 confirmed and a penalty of Rs. 1.00 lakh imposed on the applicants. 2. Shri B.J. Mookherjee, learned Advocate for the applicants submits that as per the Contract, the applicants were to supply Walking Dragline Machines and the erection of it would be do....
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....inasmuch as the accumulated losses during 1999-2000 are to the tune of Rs. 1152.41 crore and moreover, the Company was referred to B.I.F.R. in February, 1992 and registered vide Case No. 511/92. The learned Advocate argues that as the applicants have a strong case in their favour on merits and their financial condition being precarious, adequate grounds exist for grant of unconditional stay. 3.....