ORDER
Jyoti Balasundram
1. By Stay Order No. S/93/2001-NB dated 2.2.2001 the applicant (who is the proprietor of M/s Pankaj Tar Udhoyog) was directed to make a pre-deposit of Rs. 10 lakhs towards the total duty demand within 8 weeks from the date of receipt of the stay order and report compliance on 10.4.2001. The applicants submitted that the order was receive on 14.3.2001 and the period for pre-deposit expired on 9.5.2001. They submitted that subsequent to the passing of the stay order, they have suffered heavy financial losses and further, the factory has been sealed on 25.4.2001 under orders of the Hon’ble Supreme Court. The applicants have been able to deposit only Rs. 75,000/- till date. Due to financial difficulty, they are not in a position to comply entirely with the pre-deposit requirement and, therefore, pray that the stay order may be modified by waiving pre-deposit of the balance amount of Rs. 9.25 lakhs.
2. The prayer is opposed by the ld. DR who submits that financial hardship had been taken into account by the Tribunal while directing pre-deposit of Rs. 10 lakhs and that closure of factory under orders of the apex Court is not sufficient ground to dispense with the pre-deposit of balance duty by modification of the stay order.
3. We have carefully considered the rival submissions and we are not satisfied that sufficient ground for modification has been established. We are, therefore, dismissed the application. However, in the interests of justice we extend time for pre-deposit by further period of three months from today.
4. Compliance to be reported on 10.9.2001.