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TMI Blog2025 (2) TMI 619X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 of the Cenvat Credit Rules, 2004 read with Section 11A(1) of the Central Excise Act, 1944 by invoking extended period of limitation; also confirmed interest under Rule 14 of the Cenvat Credit Rules, 2004 read with Section 11AB of the Central Excise Act, 1944 and imposed equivalent penalty Rule 15(2) of the Cenvat Credit Rules, 2004 and Rule 25(1) of the Central Excise Rules, 2002 read with Section 11AC of the Central Excise Act, 1944. 2. Briefly stated facts of the case are that the appellant is engaged in manufacture of M.V. Parts and Sheet Metal components of Refrigerator and Air Conditioners falling under Chapter Headings 87 & 84 of the first schedule to the Central Excise Tariff Act, 1985. The appellant is availing Cenvat Credit unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re this Tribunal, an operational creditor M/s S.K. Unit Print Pvt Ltd filed an application before the National Company Law Tribunal, Chandigarh (in short "the NCLT Chandigarh") under Section 9 of the Insolvency and Bankruptcy Code, 2016 (in short "IBC, 2016") in order to initiate Corporate Insolvency Resolution Process (in short "CIRP") against the Corporate Debtor i.e. appellant herein. The said application was admitted by the NCLT Chandigarh vide its order dated 08.01.2020. Later, the said CIRP culminated into liquidation proceedings vide order dated 31.03.2023 of the NCLT Chandigarh and Shri Sanjay Kumar Dewani was appointed as the liquidator. Thereafter, the liquidator, after following the process as prescribed under the Liquidation Pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CLT, Chandigarh. We also note that Shri Sanjay Kumar Dewani was appointed as the liquidator who after following the due process as prescribed under Liquidation Process Regulations, 2016 and realized all the assets of the Corporate Debtor and distributed the same amongst the stakeholders in accordance with the said Regulations as mentioned in the order passed by the NCLT, Chandigarh. Here, it is pertinent to reproduce the relevant findings of the NCLT, Chandigarh, which are reproduced as under: "13. In the abovementioned facts and circumstances as well as Revised Form-H annexed by the Applicant, it appears that due process of Liquidation, as per extant provisions, was followed by the Liquidator. On examining the Application, additional aff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of the corporate person, either with himself or with an information utility." 7. Further, it is also pertinent to reproduce the Rule 22 of the CESTAT (Procedure) Rules, 1982, which reads as under: "RULE 22. Continuance of proceedings after death or adjudication as an insolvent of a party to the appeal or application. - Where in any proceedings the appellant or applicant or a respondent dies or is adjudicated as an insolvent or in the case of a company, is being wound up, the appeal or application shall abate, unless an application is made for continuance of such proceedings by or against the successor-in-interest, the executor, administrator, receiver, liquidator or other legal representative of the appellant or applicant or respon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ade applicable in his case. However, in view of the fact as stated in the para 4.2 and 4.3 above we are of the view that moment the successor interest with sufficient rights to be represented is appointed by the NCLT this rule will become applicable and it is for the successor interest to make an application for continuance of the proceedings. In the present case no such application has been filed by the successor interest for the continuance of the proceedings and hence the appeal stands abated by the operation of this rule. 4.5 ........................... 4.6 There is no dispute to the binding nature of the resolution plan as approved by the NCLT. It has been settled by the Hon'ble Apex Court in the cases referred to by the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nches of this Tribunal in the cases cited by the ld. A.R. for the Revenue i.e.(i) M/s MC Nally Sayaji Engineering Limited vs. CCGST, Bolpur - 2023 (4) TMI 1076 - CESTAT KOLKATA; (ii) CCE & ST, Surat-II vs. Arcelormittal Nippon Steel India Ltd - 2023 (2) TMI 231 - CESTAT AHMEDABAD; (iii) M/s Jet Airways India Ltd vs. CST, Mumbai-V - 2023 (5) TMI 767 - CESTAT MUMBAI; (iv)M/s Bhushan Power & Steel Ltd vs. CCE, Kolkata-IV -2023 (5) TMI 184 - CESTAT KOLKATA; (v)M/s Murli Industries Ltd vs. CCE, Nagpur - 2022 (11) TMI 289 - CESTAT MUMBAI. 14. In the appellant's own case, the Hon'ble Gujarat High Court in R/Tax Appeal No. 32 of 2019 taking note of the judgments on the subject including that of Hon'ble Supreme Court in Ghansyam Mishra's case held ..... X X X X Extracts X X X X X X X X Extracts X X X X
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