Indu Nissan Oxo Chemicals Ind.Ltd vs Union Of India And Ors

The Supreme Court upheld the order of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) requiring the appellant to deposit Rs. 2 crores as a pre-condition for hearing their appeal under Section 129E of the Customs Act, 1962. The Court found that the waiver of penalty claimed by the appellant was not applicable to the imports in question, as the DGFT's exemption was specific to naphtha and did not extend to heptene. The Court affirmed the CESTAT's decision, emphasizing the need for compliance with the pre-deposit requirement to proceed with the appeal.