GILCO STEELS LTD. Vs. COMMISSIONER OF CENTRAL EXCISE

JUDGEMENT

(1.) Counsel for the appellant submits that the bank has taken over the unit under the SARFAESI Act and even otherwise Section 35F of the Central Excise Act, 1944 has been amended, though during the pendency of the appeal, requiring an appellant to deposit 7.5% of the original duty. As such, the Tribunal should have waived duty beyond 7.5% of the duty demanded. Notice of motion for 10-4-2015. Subject to the appellant depositing Rs. 10 lacs within one month from today, the Tribunal shall adjourn the hearing of appeal to a date beyond the date fixed by this Court.