ORDER
R. Jayaraman, Member (T)
1. For hearing the applicants’ appeal on merits, they are required to deposit a sum of Rs. 2,33,971 towards duty. The arguments advanced by both the sides touch on the main appeal itself which involves the classification of the items manufactured by the applicants viz. aluminium die casting which is used as motor vehicle parts. We find that the issue raised is debatable. We also looked into the financial position and taking note of the fact that the applicants are facing financial constraint on account of recession in the automobile industry, we direct the applicants to furnish a Bank Guarantee for a sum of Rs. 1.2S lakhs within a period of eight weeks from the date of communication of this order and reporting compliance within nine weeks, failing which their appeal is liable to be rejected. On furnishing the Bank Guarantee, there shall be stay and waiver of recovery of the duty amount.
(Pronounced in the open court).