Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + HC Insolvency and Bankruptcy - 2021 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (12) TMI 1417 - GUJARAT HIGH COURTApproval of Resolution Plan - It is the grievance of the applicant that the respondent has not challenged Resolution Plan before the NCLT and despite the best of the opportunities and instead it has decided to approach NCLAT directly by way of an appeal under Section 61 of the Code, which was impermissible - HELD THAT:- There does not appear to be any further challenge before the Apex Court after once the NCLAT has approved the Resolution Plan. In wake of the settled position of the law, once the Resolution Plan is approved and the approval order has been given under Section 31(1) of the Code, which has been also confirmed by the NCLAT, the same would have an overriding effect over all other laws and force including the Central Excise Act, 1944 and therefore, the appeal is not survived. This court notices that the Tax Appeal is admitted for consideration of the substantial questions of law - appeal disposed off.
|