Real Estate in Air - Jet Lite's 256 Crores case to be heard by CESTAT on 16.11.2010
THE CESTAT had in 2010-TIOL-854-CESTAT-DEL, ordered a pre-deposit of Rs. 100 Crores. On writ petition, the Delhi High Court in -DE-ST reduced the pre deposit to Rs 60 crores and Rs 10 Crores Bank Guarantee. On appeal, the Supreme Court did not grant any relief and asked JET LITE to pay the amounts as directed by the High Court.
The CESTAT has now directed that the case be heard finally on 16.11.2010.
In Misc. Order No. ST/105/2010, Justice R M S Khandeparkar , President recently passed the following order.
On perusal of the order passed on 20.08.2010 by the Hon'ble High Court of Delhi and the order dated 27.09.2010 passed by the Hon'ble Supreme Court, copies of which have been placed on record disclose that the Hon'ble High Court of Delhi had modified the Tribunals order to the extent that if the Petitioner were to deposit sum of Rs.60 crores and furnish bank guarantee for a sum of Rs.10 crores by 25.09.2010, then the Tribunal is required to proceed with the appeal and finalise the matter by the end of November 2010 and for that purpose the parties were directed to appear before the Tribunal on 27.09.2010 for fixing a clear date for hearing of the appeal and that the Tribunal is not expected to adjourn the matter at the instance of either of the parties. The appellants approached the Hon'ble Supreme Court against the said order. However, the petition in that regard was dismissed by the said dated i.e. 27.09.2010. But at the request of the learned Counsel for the appellants, the Hon'ble Supreme Court has granted eight weeks time to deposit the amount in terms of the order passed by the High Court of Delhi. Apart from grant of the extension of period to deposit the amount no other modification has been made in the order passed by the High Court of Delhi. Considering the same, the Tribunal is required to dispose of the appeal by the end of November, 2010. In order to enable the Tribunal to dispose of the appeal in terms of the said direction it will be necessary to hear the matter at earliest. The matter, therefore is directed to be listed for final hearing on 16.11.2010, first on Board, with a clear intimation to the parties that the hearing of the matter would not be adjourned under any circumstances.