2022 (11) TMI 289 - AT - Central Excise
Refund of pre-deposit - Abatement of appeal - CIRP proceedings - Rule 22 of CESTAT (Procedure) Rules, 1982 - HELD THAT:- It is not disputed that the Resolution Plan for the appellant company was approved by Learned NCLT vide its orders dated 3.7.2019 and 22.7.2019. As per Section 31(1) of I&B Code, once a resolution plan is duly approved by the Adjudicating Authority, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors including the Central Government, any State Government or any local authority, guarantors and other stake holders - In the instant case the Resolution Plan was approved by the learned NCLT vide its order dated 3.7.2019 and certain clarifications in some paragraphs of the order were made by the learned NCLT vide its order dated 22.7.2019.
In the matter of M/S. ALOK INDUSTRIES LTD. VERSUS COMMISSIONER OF CENTRAL EXCISE, BELAPUR AND COMMISSIONER OF CEN. EXCISE, MUMBAI CENTRAL [2022 (10) TMI 801 - CESTAT MUMBAI] of this Tribunal in similar circumstances in which it has been held that the appeal abates in terms of Rule 22 ibid with effect from the date of approval of resolution plan by learned NCLT.
As the appeal has already been abated therefore the appellant cannot claim any refund before this Tribunal of any pre-deposit made by them before the Commissioner (Appeals), as the power which Hon’ble Supreme Court/High Courts can exercise are not available with this Tribunal - Application disposed off.