https://www.taxtmi.com/caselaws?id=310231 Approval of a corporate debtor's resolution plan under the Insolvency and Bankruptcy Code was treated as binding, and claims not included in the plan were held to stand extinguished. Applying Rule 22 of the CESTAT Procedure Rules, 1982, the Tribunal noted that proceedings abate where a party has been adjudicated insolvent or, in the case of a company, is wound up, unless the successor-in-interest seeks continuance. As no application for continuation was filed by the successor-in-interest, the Tribunal became functus officio in relation to the appeal and the pending appeals stood abated without being proceeded with on merits. en-us Tue, 19 Jul 2022 00:00:00 +0530 Fri, 13 Oct 2023 09:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310231 Approval of a corporate debtor's resolution plan under the Insolvency and Bankruptcy Code was treated as binding, and claims not included in the plan were held to stand extinguished. Applying Rule 22 of the CESTAT Procedure Rules, 1982, the Tribunal noted that proceedings abate where a party has been adjudicated insolvent or, in the case of a company, is wound up, unless the successor-in-interest seeks continuance. As no application for continuation was filed by the successor-in-interest, the Tribunal became functus officio in relation to the appeal and the pending appeals stood abated without being proceeded with on merits. Case-Laws Insolvency and Bankruptcy Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310231