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TMI Blog2022 (12) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, the appeals are disposed off as infructuous without deciding any merit of the case. Aggrieved persons are given liberty to approach this Tribunal with appropriate application if at all anyone wants to pursue this appeal on merit. Appeal disposed off. - Customs Appeal No. 10599 of 2013 with Excise Appeal No. 279 of 2012, Customs Appeal No. 366 of 2010, Excise Appeal No. 403 of 2012, Service Tax Appeal No. 503 of 2012, Excise Appeal No. 10672 of 2019 with Excise (CO) No. 10597 of 2019 - Final Order No. A/11770-11775/2022 - Dated:- 28-11-2022 - MR. RAMESH NAIR, MEMBER (JUDICIAL) AND MR. RAJU, MEMBER (TECHNICAL) Shri. Anil Gidwani, Advocate Shri. G. Kirupanandan, Superintendent (Authorized Representative) for the Appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and a fresh moratorium under Section 33 (5) shall commence. (vi) This order is deemed to be a notice of discharge to the officers, employees and the workmen of the Corporate Debtor as per Section 33 (7) of I B Code, 2016. (vii) Since the CD company is a going concern, the liquidator is at the liberty to sell the CD company as a going concern as per the provisions of the Code and regulation. (vii) The Liquidator is directed to proceed with the process of liquidation in a manner laid down in Chapter III of the Insolvency and Bankruptcy Code, 2016. (viii) Upon proceeding with the liquidation the Liquidator shall file a preliminary report as per regulation 5 read with Reg.13 of the IBBI (Liquidation) Regulations, 2016 at the re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Contingent Liabilities of the Operational Creditors in respect of the Corporate Debtor shall stand fully discharged on the Transfer Date without any payment and there shall be no recourse to the Corporate Debtor or the Resolution Applicant in respect of or arising from the Contingent Liabilities. Based on this Resolution Plan, all Litigations relating to the Contingent Liability shall stand withdrawn. - 6.5.2. Effect of the approval of the Resolution Plan With effect from the Transfer Date (or such other later date as specified below): . 6.5.2.8 from the relevant date of discharge and payment of the Resolution Amount in accordance with the Resolution Plan, all claims and dues towards the Financial Creditors, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wise and no Person shall have any claim whatsoever against the Corporate Debtor in respect of obligation or Liabilities of the Corporate Debtor in respect of obligation or Liabilities of the Corporate Debtor pertaining to the period prior to the Transfer Date; 6.5.2.13 pursuant to this Resolution Plan, all Litigations instituted against the Corporate Debtor, initiated or arising and pending before the Transfer Date shall stand withdrawn, without any further act, instrument or deed. Any appeals or challenges in respect of such Litigations shall also stand withdrawn, without any further act, instrument or deed. It is clarified that all Litigations instituted by the Corporate Debtor, initiated or arising and pending before the Transfer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Cement Limited to M/s. Ultratech Nathdwara Cement Limited in terms of certificate of incorporation pursuant to change of name issued by RoC therefore, the company has not been wound up and it is on going company, hence, rule 22 is not applicable. As regard the decision of this tribunal in the case of M/S. MURLI INDUSTRIES LTD. v/S. CCE, NAGPUR relied upon by learned AR. On going through the said judgment, we find that the fact is not clearly revealed that whether in that case the applicant company was wound up or declared as insolvent therefore, the facts of the said decision is different from the facts of the present case. Hence, the decision in M/S. MURLI INDUSTRIES LTD. v/S. CCE, NAGPUR is distinguished. In any case as per Rule 22 of CE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdingly, we dismiss the appeal as infructuous. Both the sides have liberty that in case of any amicable resolution is not arrived at between the appellant and respondent to approach this tribunal to revive the present appeal and be decided on merit if required. The appeal is disposed as infructuous. MA also stand disposed of. 06. Having decided the appeal as above, we note that IBC proceedings are being initiated against many companies who are either appellant or respondent in the appeals pending before this tribunal. We observed that the revenue-department has no proper guideline as to what stand is to be taken in a case where the IBC proceedings is in progress before NCLT/NCLAT or at higher forum. The assessee against whom the IBC pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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