- (1.) Heard counsel for the parties.
(2.) Leave granted.
(3.) We do not propose to state the facts leading up to this stage for the reason that there is a good amount of controversy as to correct factual situation between the counsel before us. Suffice it to say the following: When a demand was raised by the authorities for payment of duty in accordance with the alleged provisional assessment, the assessee- manufacturer went to the Bombay High court and obtained stay on 19-6- 1989. The order was to the effect that the assessee shall keep the bank guarantees alive for six months after the disposal of the petition and that if he fails in the writ petition, he will pay interest at the rate of 18% per annum on the sum found payable.;