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TMI Blog2023 (5) TMI 184X X X X Extracts X X X X X X X X Extracts X X X X ..... for the period prior to the date on which the Adjudicating Authority grants its approval under Section 31 could be continued. It is found from the date of approval of the Resolution Plan by the NCLAT, the Appeal filed by the Appellant has abated and this Tribunal has become functus officio in the matters relating to this Appeal. Further it is also settled that the impugned Order-in-Appeal has got merged in the order of the NCLAT approving the Resolution Plan. The Appeal stands abated as per Rule 22 of the CESTAT Procedure Rules, 1982 w.e.f. the date of approval of the Resolution Plan by the NCLAT, i.e., 05.09.2019. Appeal disposed off. - Excise Appeal No. 427 of 2009 - FINAL ORDER NO. 75276/2023 - Dated:- 19-4-2023 - HON BLE SHR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... undergoing insolvency process under the Insolvency and Bankruptcy Code, 2016. Vide the said circular it has been clarified that the Central Government being the operational creditor in tax cases, may initiate insolvency resolution process and file claim in the insolvency resolution process, before the committee of creditors. Such claim is required to be made within a period of 90 days from the insolvency commencement date. It has also been acknowledged in the said circular that in case of failure to apply for claims as referred above, such claim gets extinguished. 7. In view of finalization of the resolution plan by the NCLAT, New Delhi in the Appellant s case vide order dated September 5, 2019, any demands against the Appellant prior to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tral Government. Therefore, no liability towards any operational creditors other than as approved in the resolution plan shall exist and any other liability shall be immediately, irrevocably and unconditionally stand fully and finally discharged and settled, with there being no further claims whatsoever. That such position stands settled by the decisions of the Hon ble Supreme Court in: a) Committee of Creditors of Esssar Steel Ltd., Vs. Satish Kumar Gupta, Ors [(2020) 8 SCC 531]; b). Ghanashyam Mishra Sons Pvt. Ltd, Vs. Edelweiss ARC [(2021) 9 SCC 657]. 12. The Appellant in light of the above submissions prays that the present appeal be declared abated. 13. The Ld.Authorized Representative for the Department submits t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... litigate on the rejection of each claims, despite the settled position that no claims can be raised once the plan is approved and no demands can be raised on the Resolution Application who has taken over the company through such a resolution plan. 16. We find that the Hon ble Supreme Court in the case of Ghanashyam Mishra Sons Pvt.Ltd. vs. Edelweiss ARC reported in (2021) 9 SCC 657 AT Para-102 of the judgement has categorically held as follows:- 102. In the result, we answer the questions framed by us as under:- (i) That once a resolution plan is duly approved by the Adjudicating Authority under sub section (1) of Section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corpo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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