INDU NISSAN OXO CHEMICALS IND.LTD. vs UNION OF INDIA .

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, and the financial distress of the appellant did not warrant a full waiver of the pre-deposit requirement. Consequently, the appeal was dismissed, affirming the CESTAT's decision.