(1.) AS these two stay petitions have been filed with reference to the common Order -in -Original No. 139/98, dated 30 -11 -1998 of Commissioner of Customs, Customs House, Calcutta, the same are taken up together for disposal.
(2.) IN S.P. No. 55/99, Shri Rajendra Kumar Jain seeks waiver of the condition of pre -deposit under Section 129E of the Customs Act, 1962 in respect of penalty of Rs. 65 lakhs imposed on him by the ld. Commissioner. In S.P. No. 56/99, Shri Ghevan Chand Jain, Proprietor of M/s. Sanghvi Overseas, prays waiver of the condition of pre -deposit of (i) the Customs duty referred to in para 128 of the impugned order; (ii) penalty of Rs. 84,44,603/ -; (iii) redemption fine of Rs. 6 lakhs; and (iv) penalty of Rs. 3 lakhs in respect of Bills of Entry Nos. WR -1527, dated 8 -5 -1997 and WR -876, dated 19 -3 -1998.
(3.) THE dispute relates to evasion of Customs duty in respect of Butyl Acrylate Monomer (BAM) by misdeclaring the imported goods as Adhesive and under -valuing the same, in order to avail benefit of Notification No. 203/92 -Cus. or 79/95 -Cus. under the DEEC Scheme.