ORDER: [PER SHRI ASHOK JINDAL]

The appellants are in appeal against the impugned order wherein central excise duty amounting to Rs.3,19,84,038/- (inclusive of cess), along with interest, for the period from April, 2009 to March, 2013, has been demanded from the appellant- company, namely, M/s. Hightension Electrical Equipments Pvt. Ltd. and penalties of Rs.3,19,84,038/- under Section 11AC of the Central Excise Act and Rs.1,00,00,000/- have been imposed on the appellant-company and Shri Suresh Kumar Jaiswal, Director of the appellant-company respectively.

2. The facts of the case in brief are that the appellant-company was engaged in the manufacture and re-sale of Electrical Overhead Materials/Hardware Fittings of Electrical Transmission Line, namely, 11 KV, 33KV Strain Hardware, D.O. Fuse, H.T. Fuse, A.B. Switch, M.S. Stay Set, G.I. Pin of 200 Amps., 400 Amps., etc., falling under Chapter 85 of Central Excise Tariff Act, 1985. The basic raw materials were M.S. Channel, Insulator, Gun Metal, Copper, Bolts and Nuts, G.I. Pipe, etc. They manufacture, amongst other things, A.B. Switch, D. O. Fuse, H.G. Fuse, Insulator, etc. The appellant-company availed the benefit of SSI Exemption and