- (1.) This special leave petition has been heard at length and both parties have made elaborate submissions on the merits of their respective cases and, accordingly, we proceed to dispose of the special leave petition after granting leave.
(2.) The appellant, Roche Products Limited, a public limited company has, by this appeal, challenged the propriety of the decision of the Division bench of the Bombay High court dismissing the appeal preferred by the appellant against the judgment of a learned Single Judge dismissing the writ petition of the appellant. In the writ petition, the appellant challenged the order of the Collector of Customs passed in exercise of his revisional jurisdiction under S. 130 (2 of the Customs Act, 1962, hereinafter referred to as 'the Act', directing confiscation of the goods imported by the appellant, but giving to the appellant an option to pay in lieu of such confiscation a fine of Rs. 19,00,000. 00 and further imposing on the appellant a penalty of Rs. 5,00,000. 00.
(3.) The appellant is engaged in the business of manufacture of various pharmaceutical products including sulphamethoxazole which is also known as SMX'. One of the important ingredients or raw materials for the manufacture of SMX is a chemical known as 'isoxamine', which is also known as '3-amino-5-methyl-isoxazole'.;