AMRIT BANASPATI COMPANY LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Petitioner has challenged the order dated 25.9.2000 passed under Section 35-F of the Central Excise Act, 1944 (in short, the Act) by the Central Excise & Gold Control Appellate Tribunal (in short, Tribunal) in stay application No. E/Stay/1290/2000- D in Appeal No. E/2368/2000-D.

(2.) Background facts so far as relevant are essentially as follows:

(3.) In support of the application, three submissions have been made. Firstly, it is submitted that the petitioner has been declared to be a sick company under the Sick Industries Special Provision Act, 1985 (in short. SICA). in that background Tribunal should not have directed any payment. Further the Tribunal has erroneously taken into account the financial stability of an alleged sister concern- M/s. Amrit Pulp and Paper Industries, It is, also, submitted that undue financial hardship which would be caused if any part of the demand is made is lost sight of. Learned counsel for the respondent, on the other hand. submitted that by resorting to dubious methods, huge amount of excise duly to the tune of Rs. 72,27,073.22 has been withheld. It is also submitted that petitioners' financial position is not as bleak as is tried to be projected, and no hardship would be caused if payment is made.