1 wp3332-11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.3332 OF 2011 Aeromarine Equipments Supply Pvt. Ltd. ..Petitioner. V/s. The Chief Commissioner of Customs, Mumbai ..Respondent. Mr. E.P. Bharucha, senior Advocate with S.Priya & Ranjeet V. Sangle for the petitioner. Mr. Pradeep S. Jetly for the respondent. CORAM : J.P. DEVADHAR AND A.A.SAYED, JJ. DATED : 27TH APRIL, 2011 P.C. :- 1. Heard. The petitioner had imported a vessel known as 'M.B. AERO STAR' from Signapore which was assessed and allowed to be cleared with the benefit Exemption Notification No.21/02 dated 1/3/2002 by classifying the vessel under Tariff Head 8901 90 00. The said vessel was seized on 29/3/2011 under a panchanama. On application made by the petitioner, the respondents by an order dated 6/4/2011, have allowed the vessel to be released provisionally on the following conditions :- 2 wp3332-11 (i) On payment of appropriate duty amounting to Rs.37,71,567/-. (ii) On execution of bond for full assessable value i.e. Rs. 1,40,47,329/-. (iii) On execution of bank guarantee for 30% of the assessable value. 2. After the matter was argued for some time, the parties agree that the provisional release order be modified to the extent that instead of cash deposit of Rs.37,71,567/-, the petitioner shall furnish bank guarantee for that amount. The provisional release order dated 6/4/2011 is modified to that extent only. It is made clear that the condition Nos. (ii) & (iii) shall remain unaltered. 3. The petition is disposed off in the above terms with no order as to costs. (A.A. SAYED, J.) (J.P. DEVADHAR, J.)