Appeal Dismissed as Infructuous Following NCLT and NCLAT Approval

The appeal challenging the NCLT's approval of resolution plans, subsequently confirmed by NCLAT, was dismissed as infructuous. The Tribunal noted the resolution plan acceptance and confirmation, leading to the conclusion that the appeal was no longer necessary. The appellant's request for abatement based on the upheld NCLT order was rejected, and the appeal was officially dismissed during a court session. Both parties were given the liberty to approach the Tribunal for any remaining grievances.

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Issues:
1. Challenge to NCLT order regarding resolution plans approval.
2. Appeal for abatement based on upheld NCLT order.
3. Submission of report by Revenue regarding NCLT matter.
4. Dispute resolution and appeal dismissal.

Analysis:
1. The appellant's counsel argued that the NCLT had initiated proceedings and approved resolution plans, which were later confirmed by NCLAT. The counsel cited relevant judgments supporting their position. The counsel requested the appeal to be abated based on the upheld NCLT order.

2. The Revenue's representative reiterated the findings of the impugned order and assured the submission of a departmental report regarding the NCLT matter within a month. However, no such report had been submitted to date.

3. The Tribunal examined the submissions and records, noting the acceptance of the resolution plan by NCLT on March 19, 2020, and its confirmation by NCLAT on December 23, 2020. Given these circumstances, the Tribunal concluded that the appeal had become infructuous and subsequently dismissed it. Both parties were granted the liberty to approach the Tribunal for any grievances.

4. The appeal was officially dismissed as infructuous during the open court session on March 16, 2022. The Tribunal's decision was based on the resolution plan approval by NCLT and its subsequent affirmation by NCLAT, rendering the appeal unnecessary for further consideration.

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