(1.) STAY application alongwith appeal has been filed against order -in -Original No. 04 -06/CUS/ASR/2014 dated 31.3.2014 in terms of which a customs duty demand of Rs. 5,03,30,930/ - along with interest was confirmed and the impugned imported waste paper collectively valued at Rs. 4,23,23,896/ - was order to be confiscated and as the goods were not available for confiscation redemption fine of Rs. 4,23,23,896/ - was imposed under Section 125 of Customs Act, 1962.
(2.) THE facts, briefly stated are as under.
(3.) DURING the hearing the appellants essentially stated that