ORDER

1. Delay condoned. Leave granted.

2. Reasons for staying the impugned judgment:

(a) Case of the Department the Intelligence was collected that one Shri Sangit Aggarwal and his relatives/associates were indulging in fraudulent import of PVC cloth under Tariff Heading 59.03 by way of mis-declaration of its value and description. The intelligence suggested that Shri Sangit Aggarwal used to visit China regularly. He used to place orders for import of PVC cloth with M/s Yantai, China. He used to instruct M/s Yantai to issue invoice of actual price and value of MIs Texpo, Hong Kong. Thereafter, M/s Texpo used to issue lesser value invoices in the name of the company owned and controlled by Shri Sang it Aggarwal. The differential amount on which customs duty stood evaded was allegedly remitted to M/s Yantai, China through hawala operators in Dubai.

Consequently, offices of Shri Sangit Aggarwal, who was the proprietor of the respondent Firm, were searched at Delhi, Haridwar, Lucknow, Mumbai, Kolkata and Ahmedabad. His residential house was also searched. From his residential house, Rs 23.90 lakhs were recovered. His wife informed the officers of DRI that Rs 23.90 lakhs constituted sale