SUBORNO BOSE Vs. APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE

JUDGEMENT

(1.) THIS appeal is against an Order and/or judgment dated 6th July, 2007 passed by the Learned Appellate Tribunal.

(2.) THE facts of this case briefly are as follows:

(3.) IT is the case of the appellant/petitioner that one Mr. Aniruddha Roy Chowdhury and his associates, being the original promoters, with the objective of setting up of a 3 -star category hotel in the Salt Lake Electronics Complex, promoted the appellant company M/s. Zoom Enterprises Ltd. in the year 1995. The appellant imported refrigeration machinery from Carrier SA, France in the year 2000. Upon import of the first consignment on 15th March, 2000, the goods were assessed by the Customs Authority in Calcutta but before the goods could be cleared by paying up the necessary duties, the erstwhile promoters ran into severe financial problems, as a result whereof the goods were warehoused under the provisions of the Customs Act, 1962.