IN THE HIGH COURT OF BOMBAY AT GOA MISC.CIVIL APPLICATION NO. 11 OF 2008 IN WRIT PETITION NO. 215 OF 2003 M/S. SEAGULL THREADS (INDIA) LIMITED ... Applicant Versus THE UNION OF INDIA THROUGH JOINT SECRETARY AND 2 ORS., ... Respondents Mr. Sudin M. S. Usgaonkar with Ms G. Kale, Advocate for the applicant. Coram:- R.M.S. KHANDEPARKAR, J. Date:- 18th March, 2008 P.C. Heard the Advocate for the applicant. None present for the respondent when the matter had come up for hearing. On 25.2.2008 time was sought on behalf of the respondent and, accordingly, the matter was adjourned. It is the case of the applicant that in view of the order passed by the Custom, Central Excise Services Tax Appellate Tribunal, West Zone Bench, Mumbai on 3.9.2007, the proceedings having been terminated in favour of the applicants, the applicants are entitled for refund of the pre-deposit amount which was to the tune of Rs.3,75,000/- as principal amount and the interest accrued thereon from the time of the deposit till the date of the withdrawal. Applicant claims 18 % p.a. interest on the principal amount. In my considered opinion, it would be appropriate to direct payment of 6 % p.a. interest on such amount from the date of deposit till the date of refund of amount. The respondents are, therefore, directed to refund the said amount of Rs.3,75,000/- along with interest thereon @ Rs.6 % p.a. from the date of the deposit till the date of refund of amount to the applicant within a period of 4 weeks from today. Needless to say that in case of the amount is found to have been invested in bank deposit for any period from the date of the deposit of the amount till the refund of the amount, the interest accrued thereon during the period of such investment then the interest payable shall be the one so accrued. The application, accordingly, stands disposed of R.M.S. KHANDEPARKAR, J. SMA