M/S SRI VASAVI INDUSTRIES LTD. SHRI N.K. DAS SHRI ARJALA SATYANARAYANA Vs. COMMR. OF CENTRAL EXCISE, BOLPUR

JUDGEMENT

(1.) NONE present for the Applicants. Heard the ld. A.R. (Commissoner) for the Department. The applicants have filed these applications for waiver of predeposit of duty of Rs. 1,72,24,497/ - and equal amount of penalty under Section 11AC of the Central Excise Act, 1944 on M/s Sri Vasavi Industries Ltd., and a penalty of Rs. 20.00 lakhs on Shri N. K. Das, Director (Commercial) of the Company and a penalty of Rs. 5.00 lakhs on Shri Arjala Satyanarayana, Deputy General Manager (Works) of the Company, in terms of Rule 26 of the Central Excise Rules, 2002.