SESA STERLITE LTD. Vs. COMMISSIONER OF CENTRAL EXCISE

JUDGEMENT

(1.) Challenging the order dated 03.02.2015 made in Misc.Order No.40270/2015 on the file of the Customs Exercise and Service Tax Appellate Tribunal, South Zonal Bench, Chennai, the second respondent herein, this Civil Miscellaneous Appeal has been preferred.

(2.) The appeal in ST/Stay/40373/2014 was preferred by the appellant herein before the second respondent Tribunal. The said Tribunal passed an order directing the appellant to deposit Rs.4 crores (Rupees four corers only) in three instalments. Accordingly, the first instalment of Rs.2 crore (Rupees two crores only) shall be deposited by the appellant on 28.02.2015, the second instalment of Rs.1 crore (Rupees one crore only) shall be deposited by 31.03.2015 and the last instalment of Rs.1 crore (Rupees one crore only) shall be deposited by 15.04.2015. It was also made clear that failure to deposit any of the instalments shall render the stay order vacated and the respondents shall be at liberty to realise the dues according to law.

(3.) It is not in dispute that it is a conditional order, whereby, stay was granted by the Appellate Tribunal.