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TMI Blog2024 (5) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... e findings of Mumbai Bench of the Tribunal in the case of M/s Jet Airways (India) Limited [ 2023 (5) TMI 767 - CESTAT MUMBAI] which was disposed of and it was ordered that the appeals stand abated once the Resolution Plan has been approved by NCLT and the CESTAT has become functus officio in the matters relating to this appeal. Once the Resolution Plan has been approved by the NCLT, thereafter, the present appeal stands abated as the CESTAT has become functus officio in the matter relating to the present appeal - the appeal filed by the appellant is disposed of as abated. - HON BLE Mr. S. S. GARG , MEMBER ( JUDICIAL ) And HON BLE Mr. P. ANJANI KUMAR , MEMBER ( TECHNICAL ) For the Appellant : None Present For the Respondent : Shri Anurag K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt along with interest under Section 11 AB (now 11AA) of the Act ibid. ii) I impose penalty of Rs.5,00,000/- (Rupees five Lakhs only) under Rule 15(1) of the Cenvat Credit Rules, 2004. Aggrieved by the said order, the appellant has filed the present appeal. 2. None has appeared on behalf of the appellant; heard the learned Authorized Representative for the Revenue-Respondent. 3. The learned Authorized Representative for the Revenue has submitted that the creditors of the appellant approached the NCLT and Mumbai Bench of the NCLT has approved the Resolution Plan. Further he has submitted that once the Resolution Plan has been approved, the present appeal needs to be abated. 4. The learned Authorized Representative has further submitted that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e findings of Mumbai Bench of the Tribunal in the case of M/s Jet Airways (India) Limited (supra) which was disposed of vide its order dated 12.05.2023 in Appeal Nos. ST/86949, 87287/2015 and it was ordered that the appeals stand abated once the Resolution Plan has been approved by NCLT and the CESTAT has become functus officio in the matters relating to this appeal. It is pertinent to reproduce the relevant findings of the coordinate benches on the issue which are reproduced herein below:- 4. We also find that the matter is no more res integra, as the Hon ble Supreme Court in Civil Appeal No. 8129 of 2019, in the case of Ghanashyam Mishra and Sons Pvt. Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd. Ors. vide judgement dated 13.04.202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such claims, which are not a part of resolution plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim, which is not part of the resolution plan; (ii) 2019 amendment to Section 31 of the I B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which I B Code has come into effect; (iii) Consequently all the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior the date on which the Adjudicating Authority grants its approval under Section 31 could be co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t corporate debtors when the Corporate insolvency and resolution process is initiated and public announcement inviting claims is made by the insolvency professional. 2. A timeline of 90 days from the insolvency commencement date is available for filing of claims. However, it has been observed that there is an inordinate delay in filing of claims by Customs and GST authorities. This leads to their claims not being admitted and extinguished once a resolution plan is approved. It is also observed that the authorities then 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 Applicant who has taken over the company through suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urt in Ghanashyam Mishra (supra) and upon taking note of the fact that the NCLT has approved the resolution plan in the insolvency proceedings in regard to the corporate debtor of the appellant-assessee company, we are of the view that the appeals before this Tribunal are abated. 7. By following the ratio of the above said decision, we are of the considered view that once the Resolution Plan has been approved by the NCLT, thereafter, the present appeal stands abated as the CESTAT has become functus officio in the matter relating to the present appeal. Further, we find that in the appellant s own appeal bearing no. ST/536/2010, this Bench vide Final Order No. 60005/2024 dated 05.01.2024 has also disposed of the appeal by holding that the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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