https://www.taxtmi.com/highlights?id=78686 CESTAT (Appellate Tribunal) addressed whether appeals continue post initiation of Corporate Insolvency Resolution Process (CIRP) and approval of Resolution plan u/s Insolvency and Bankruptcy Code, 2016. Referring to M/S. ALOK INDUSTRIES LTD. case, it was noted that Rule 22 applies upon NCLT appointing a successor interest with rights for continuation. Tribunal's powers are limited by statute; exceeding these renders orders invalid. CIRP initiation and Resolution plan approval result in appeal abatement u/s Rule 22 of CESTAT (Procedure) Rules, 1982. Appeals by both parties abated. en-us Fri, 21 Jun 2024 18:00:08 +0530 Fri, 21 Jun 2024 18:00:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78686 CESTAT (Appellate Tribunal) addressed whether appeals continue post initiation of Corporate Insolvency Resolution Process (CIRP) and approval of Resolution plan u/s Insolvency and Bankruptcy Code, 2016. Referring to M/S. ALOK INDUSTRIES LTD. case, it was noted that Rule 22 applies upon NCLT appointing a successor interest with rights for continuation. Tribunal's powers are limited by statute; exceeding these renders orders invalid. CIRP initiation and Resolution plan approval result in appeal abatement u/s Rule 22 of CESTAT (Procedure) Rules, 1982. Appeals by both parties abated. Highlights Central Excise Fri, 21 Jun 2024 18:00:08 +0530 https://www.taxtmi.com/highlights?id=78686