JUDGMENT - DAGA V.C., J.:---The source of this petition is the order dated 28th August, 2002 passed by the Deputy Commissioner of Central Excise, Pune VII Division, Pune, forfeiting the facility of making payment of excise duty on fortnightly basis, in exercise of powers conferred on him under Rule 8(4)(ii) of the Central Excise Rules, 2001 (the 'Excise Rules of 2001' for short), framed under Central Excise Act, 1944 (the 'Excise Act' for short).

THE FACTS

2. The facts giving rise to the present petition are in a narrow compass. They are, the petitioners are the public limited company engaged in business of manufacturing steel and alloys with other allied products which attract payment of excise duty under the provisions of the Central Excise Act.

3. The petitioners were enjoying facility of payment of excise duty payable by them on their products on fortnightly basis under Rule 8(1) of the Excise Rules of 2001, which respondent No. 2 has forfeited by his impugned order dated 28th August, 2002 passed in exercise of powers under Rule 8(4)(ii) of the said Rules, alleging breach thereof by the petitioners.

STATUTORY PROVISIONS

Before proceeding further it may be proper to notice relevant

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