(1.) The Order passed by the Commissioner of Customs and Central Excise, Goa, dated 17-7-2008, directing confiscation of the seized foreign currency of 68,000/- pounds equivalent to Indian Rs. 51,68,000/-, is challenged in this Petition. The impugned Order further gives an option to the petitioner to redeem the seized currency in lieu of confiscation, on payment of redemption fine of Rs. 10,00,000/- and personal penalty of Rs. 10,00,000/-. The said Order is appealable under Section 129A of the Customs Act. The learned Counsel for the petitioner has contended that the petitioner would be ready and willing to deposit the total sum of Rs. 20,00,000/-, which include the redemption fine and personal penalty, without prejudice to the rights of the petitioner and thus prayed for a direction for refund of the balance amount without prejudice to the rights of the parties.
(2.) The impugned Order is appealable under Section 129A of the Customs Act. The learned Counsel for the petitioner has submitted that the Appellate Tribunal may not be in a position to consider the petitioner's prayer in regard to refund of the balance amount by permitting the deposit of Rs. 20,00,000/-. We have perused the relevant provisions dealing with the powers of the Appellate Tribunal and, prima facie , we are of the view that the Appellate Tribunal is possessed of the powers to deal with the grievance of the petitioner voiced in this petition. Hence, at this stage, we are not inclined to entertain the petition as there exists an alternative efficacious remedy in form of appeal under Section 129A of the Customs Act.
(3.) At this stage, the learned Counsel for the petitioner seeks permission to withdraw the Writ Petition with liberty to file an appropriate application before the Tribunal. Petition allowed to be withdrawn with liberty as prayed for.