Judgment: 1. Application is for waiver of penalty of Rs. 1.5 lakhs imposed on the applicant under Section 112 of the Act on the ground that it had illegally imported parts of textile machinery.
3. the issues are arguable and whether the goods were imported in contravention of the rules has to be decided after considering the evidences in this regard. Having regard to the fact that the applicant has already deposited Rs. 75,000/- towards the penalty in pursuance of the Kar Vivadh Samadhan Scheme (although the certificate and final statement under this scheme had not been issued) we waive deposit of the remaining amount of penalty and stay its recovery.