In would be expedient to give facts in order to adjudicate the application for condonation of inordinate delay of 850 days' in filing the appeal. The assessee was engaged in the business of manufacture and export of Nylon, Polyester/Blended Yarn. As per the notification dated 3.6.1997, the assessee could not import capital goods and raw material without payment of duty which was required to be utilized in the manufacture of goods meant for export. The assessee was to clear the goods in the domestic market on payment of duties. During the period from 27.7.2001 to 31.8.2004, the assessee in terms of the above provisions imported as well as domestically procured capital goods and raw material without payment of duty. During the period July 2001 to 31.3.2005, the appellant imported goods and utilized the same in the manufacture of finished goods and exported finished goods as well as sold in the domestic market on payment of applicable duties. The respondent issued two show cause notices to the appellant demanding the duty amounting to 2,18,74,612/- along with interest. The said notices were duly replied by the appellant. The respondent vide orderin-original dated 31.5.2007 confirmed the said demand of 2,18,74,612/- and imposed penalty of 80 lacs holding that the Letter of Permission of the appellant was valid upto 31.12.2006. Feeling aggrieved, the appellant filed an appeal before the Tribunal. Along with the appeal, stay application was also filed. The Tribunal vide order dated 8.1.2008 directed the appellant to deposit 50 lacs for hearing of the appeal. On failure of the appellant to deposit a sum of ` 50 lacs as
