2026 (5) TMI 775

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....AL) AND HON'BLE MR AJAY SHARMA, MEMBER (JUDICIAL) Shri Priyadarshi Manish, Advocate for the appellant Shri Manish Raj, AC (AR) for the respondent ORDER PER: C J MATHEW The limited issue before us, in these appeals of M/s Miraya Vinyls Pvt Ltd and of M/s Canadian Speciality Vinyls, is the allegedly disproportionate terms and conditions imposed by Commissioner of Customs, NOIDA for pr....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ated 19th November 2025 for furnishing bond for Rs.4,66,36,420/- to be secured by bank guarantee of Rs.1,15,00,000/- by M/s Canadian Speciality Vinyls while that seized from M/s Miraya Vinyls Pvt Ltd was permitted to be released provisionally on furnishing bond of Rs. 5,57,49,059/- supported by bank guarantee for Rs.1,30,00,000/- 3. The appellants challenged the terms of provisional release bef....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....prohibited nor subject to any condition for import. The differential duty liability on the goods is Rs.54,66,226/- insofar as M/s Canadian Speciality Vinyls is concerned and Rs. 57,17,387/- insofar as M/s Miraya Vinyls Pvt Ltd is concerned. 7. It is on record that the appellant M/s Miraya Vinyls Pvt Ltd had in terms of the direction of Tribunal deposited Rs.75,00,000/- vide e-challan on 29th De....