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Punjab and Haryana High Court
Decided on : 21.03.2022

Punjab Excise Act, 1914 (Punjab Act 1 of 1914), Sections 61/1/14, 78 (2) Third Proviso – Code of Criminal Procedure, 1973 (2 of 1974), Section 452 – Excise matter – Release of vehicle on superdari – Value of vehicle – Assessment of – Third Proviso “equivalent to the value of the conveyance thereof” -- Valid connotation thereof, is that the value of the seized/ impounded vehicle, at the stage of either its seizure, and more importantly, at the stage of the preferment of the application -- Apposite depreciation which has occurred, since the date of purchase, and, upto the application, being preferred, is to be borne in mind, as it becomes the actual saleable price of the vehicle concerned -- Trial court making a direction to furnish a bank guarantee in the sum of Rs. 8 lakhs – High Court reduced it to Rs. 4 lac -- Impugned orders set aside -- Judicial Magistrate to receive evidence qua the depreciated value of the vehicle to make an order imposing a condition, either cash security or a bank guarantee.

(Para 3-5, 9-10)

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