for Personal Guarantees
instant case the impugned order seems to be worse because the order for release
of goods has been made upon a personal guarantee for the difference between C
& F value and loaded value as demanded by the customs authority. Personal
guarantee is generally a weal and uncertain security and the creditor more
often than not may have to chase a will-o-the-wisp. Such guarantees are
deprecated and the Court will be well advised not involve public authorities
from running after such personal guarantees.
Commissioner of Customs Vs. Abu Hasnat &
Ors 8 BLT (AD)-27.