P.G. Chacko, Judicial Member - In this application, the appellant seeks waiver of pre-deposit and stay of recovery in respect of service tax of Rs. 12,90,54,553 demanded under section 73 of the Finance Act, 1994 as also in respect of penalties imposed under sections 77 and 78 of the Act. The demand of tax is for the period May, 2006 to March, 2007 and the same is under two heads viz. "Security Agency" service under section 65(105)(w) of the Finance Act, 1994 and "Manpower Recruitment Agency" service under section 65(105)(k) of the Act.

2. Ld. counsel for the appellant has presented before us the facts of this case. The appellant is Security Guards Board constituted under section 6 of the Maharashtra Private Security Guards (Regulation of Employment and Welfare) Act, 1981 which Act was enacted for regulating the employment of Private Security Guards employed in factories and establishments in the State of Maharashtra and for making better provisions for their terms and conditions of employment and welfare, through the establishment of a Board therefor, and for matters connected therewith". The Board brought a scheme called "The Maharashtra Private Security Guards (Regulation of