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2023 (10) TMI 1344 - CESTAT HYDERABADApproval of Resolution Plan - Seeking out of turn hearing to record the approval of plan - HELD THAT:- Clause 1(f) in Chapter X of the Resolution Plan states that all claims prior to the NCLT approval date of Governmental Authorities in relation to all taxes which the Appellant was liable to pay shall stand extinguished on the approval date. Clause 1(o) declares that any tax, duty and legal liability for the period prior to approval date will be waived and extinguished. That the instant Appeal filed in 2012 is a claim which existed prior to approval date and stands extinguished by virtue of Resolution Plan. The payment schedules described in the Resolution Plan have been completed. The dispute underlying in the above appeal stands settled under Resolution Plan and nothing survives. It was prayed that appeal may be heard out of turn to record the approval of Resolution Plan by NCLT and the appeal may be disposed accordingly. Taking note of the fact that the NCLT has approved the Resolution Plan in the insolvency proceedings in regard to the company, the Appeal does not survive any more - appeal dismissed.
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