Appeal Dismissed as Infructuous by Tribunal, Upholds Resolution Plan

The appeal was dismissed as infructuous by the Tribunal due to the settled nature of the appellant's case under NCLT and the previous disposal of the appeal based on similar grounds. Both parties were granted liberty to approach the Tribunal if they had any grievances despite the dismissal of the appeal. The Tribunal upheld the approved resolution plan by the committee of secured creditors accepted by the NCLT and NCLAT, ensuring procedural transparency and adherence to legal formalities.

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Issues:
Settlement under NCLT, Disposal of appeal, Infructuous appeal, Liberty to approach Tribunal

Settlement under NCLT:
The appellant's counsel submitted that the NCLT proceedings had been initiated, and the resolution plans approved by the committee of creditors were confirmed by the NCLT. The NCLAT upheld the NCLT's order. The appellant relied on various judgments to support the case. The appellant requested that the appeal be abated due to the settled position.

Disposal of Appeal:
The Tribunal had previously disposed of the appeal of the same appellant based on an NCLT order. The Additional Commissioner representing the Revenue acknowledged that the appeal had been disposed of earlier. The Tribunal considered the submissions from both sides and noted that the approved resolution plan by the committee of secured creditors had been accepted by the NCLT and upheld by the NCLAT.

Infructuous Appeal:
Considering the settled nature of the appellant's case under NCLT and the previous dismissal of the appeal on similar grounds, the Tribunal concluded that the present appeal had become infructuous. As a result, the appeal was dismissed as infructuous. Both parties were granted liberty to approach the Tribunal in case of any grievances.

Liberty to Approach Tribunal:
The Tribunal granted both parties the liberty to approach the Tribunal if they had any grievances despite the dismissal of the appeal as infructuous. The order was dictated and pronounced in the open court, maintaining procedural transparency and adherence to legal formalities.

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