(1.) The petitioners have prayed for directing the respondents for granting registration, as Transporter, Carrier and transporting agent as required under Section 38-B of Tripura Sales Tax Act, 1976 (for short called the 'Act') read with rule 64A of Tripura Sales Tax Rules, 1976 (for short called "Rules") without any security deposit.
(2.) The relevant provisions of 'Act' and 'Rule' are quoted as follows :
(3.) According to the petitioners, the decision of the respondent requiring the petitioner firm to deposit an amount of Rs. 10 lakh as security for money by challan at a time for getting registration for doing transport business is illegal and ignoring the proposal of petitioners for depositing the bank security or minimum security deposit in 10 monthly installments is also bad as for depositing such a heavy amount of Rs. 10 lakh as security money the petitioners have to take loan from the bank and have also to pay interest- thereon. More so, not taking any decision on the part of the respondents in respect of payment of interest on the deposit of such security money is also not fair, (emphasis supplied)
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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