CASTROL INDIA LIMITED Vs. UNION OF INDIA

JUDGEMENT

(1.) Heard Mr. Patil in support of this petition Mrs. Bharucha appears for the respondents.

(2.) Rule. Rule made returnable forthwith. By consent of the parties taken up for final hearing.

(3.) The petitioner had furnished a bank guarantee through H.D.F.C Bank for Rs. 12.50 lakhs during the course of provisional assessment of their excise duty for the year 2003. The provisional assessment has been finalised and order-in-original has been passed on 28th November, 2006 whereby the respondent No. 3 has lodged their claim with the bank for encashing the bank guarantee by his letter dated 29th November, 2006.