https://www.taxtmi.com/caselaws?id=754404 CESTAT Bangalore held that appeals abate when Corporate Insolvency Resolution Process is initiated and Resolution Plan approved under IBC 2016. The appellant company underwent CIRP proceedings where NCLT appointed Interim Resolution Professional and approved Resolution Plan. Following Mumbai bench precedent, CESTAT applied Rule 22 of CESTAT Procedure Rules 1982, ruling that appeals automatically abate upon IRP appointment and Resolution Plan approval. The Tribunal emphasized it cannot exceed statutory powers, and any order beyond vested authority would be non est in law, resulting in appeal abatement. en-us Fri, 17 Nov 2023 00:00:00 +0530 Mon, 24 Jun 2024 08:11:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754404 CESTAT Bangalore held that appeals abate when Corporate Insolvency Resolution Process is initiated and Resolution Plan approved under IBC 2016. The appellant company underwent CIRP proceedings where NCLT appointed Interim Resolution Professional and approved Resolution Plan. Following Mumbai bench precedent, CESTAT applied Rule 22 of CESTAT Procedure Rules 1982, ruling that appeals automatically abate upon IRP appointment and Resolution Plan approval. The Tribunal emphasized it cannot exceed statutory powers, and any order beyond vested authority would be non est in law, resulting in appeal abatement. Case-Laws Customs Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754404