1 fera44-10+1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION FERA APPEAL NO.44 OF 2010 Mr. Piyush Zaveri ..Appellant. V/s. Union of India & Ors. ..Respondents. WITH FERA APPEAL NO.45 OF 2010 Mr. Ashish Zaveri ..Appellant. V/s. Union of India & Ors. ..Respondents. Mr. Ashwin Shete with Kuldeep Nikam i/b. Khaitan & Jayakar for appellant in both the appeals. Mr. A.C. Singh with A.S. Rao and Mrs. S.V. Bharucha for respondents in both the appeals. CORAM : J.P. DEVADHAR AND MRS. MRIDULA BHATKAR, JJ. DATED : 7TH JANUARY, 2011 P.C. :- 1. These appeals are directed against the order of the Appellate Tribunal for Foreign Exchange dated 27/05/2009 whereby the appeals filed by the appellants was dismissed for non compliance of the pre-deposit order. 2. By pre-deposit order dated 17/03/2005 the appellants were directed to deposit 15% of the penalty amount and furnish bank guarantee 2 fera44-10+1 for another 15% of the penalty amount. It is not disputed that the cash component has already been deposited by the appellants, but they have failed to furnish the bank guarantee as per the order dated 17/03/2005. 3. Counsel for the revenue states that in view of the inordinate delay in furnishing the bank guarantee, the appellants must be directed to deposit the amount equivalent to 15% of the penalty amount. Admittedly, the appeals filed by the appellants were pending before the Appellate Tribunal till 27th May, 2009 as no steps were taken by the revenue for disposal of the appeals in spite of failure on the part of the appellants to comply with the pre-deposit order. In these circumstances, we quash and set aside the order of the Appellate Tribunal dated 27th May, 2009 and direct the Appellate Tribunal to hear the appeals on merit subject to the appellants depositing in cash / furnishing bank guarantee of the 15% penalty amount within a period of 4 weeks from today. 4. If the appellants fail to deposit / furnish bank guarantee within 4 weeks, both the appeals shall stand dismissed. 5. Both the appeals are disposed off accordingly with no order as to costs. (MRS. MRIDULA BHATKAR, J.) (J.P. DEVADHAR, J.)