SANJIB BANERJEE,J. - (1.) The petitioner complains of the harsh conditions imposed by the concerned Assistant Commissioner in demanding a security deposit of 50% of the insured value of the seized vehicle for its release together with a bond covering the entire value of the vehicle.
(2.) Section 110A of the Customs Act, 1962 permits any goods seized under Section 110 to be released to the owner on taking a bond from him in the proper form and with such security and conditions as the adjudicating authority may require.
(3.) Since the petitioner seeks the release of the vehicle, the maximum value of the security that the adjudicating authority may seek would be the present value of the vehicle. The adjudicating authority has demanded half of the insured value of the vehicle as security deposit. In all fairness, the personal bond demanded of the petitioner should cover the balance half of the insured value of the vehicle and not the full insured value thereof.;