VIKRAM ISPAT Vs. UNION OF INDIA

JUDGEMENT

(1.) Rule. Heard forthwith.

(2.) The petitioner had approached this Court by way of a mandamus to direct the Respondents to forthwith repay the pre-deposited amount with interest thereon as contemplated in the Board's circular dated 8th December, 2004. By an interim order of 23rd August, 2007 we had directed the respondent to deposit in this Court a sum of Rs. 3.36 crores with interest at the rate of 12% per annum from the date of deposit and calculated till the date of deposit. Thereafter as the amount was not deposited we had extended the time to deposit by order dated 18th October, 2007. That amount has since been deposited along with interest.

(3.) During the pendency of the petition it is the contention of the respondents that they had taken out, Notice of Motion No. 574 of 2007 and considering the judgment of the Supreme Court in the case of M/s. Ispat Industries Ltd. V/s. Commissioner of Customs. Mumbai, 2006 202 ELT 561and the direction of the Supreme Court which read as under :-