https://www.taxtmi.com/caselaws?id=754436 CESTAT Bangalore held that an appeal abates when NCLT approves a resolution plan under insolvency proceedings. Following Mumbai Bench precedent in Alok Industries Ltd and Gujarat HC ruling, the Tribunal applied Rule 22 of CESTAT (Procedure) Rules, 1982. The court emphasized that as a statutory creature, CESTAT cannot exceed powers vested under statute or rules. Once Interim Resolution Professional is appointed or resolution plan approved, appeals automatically abate per Rule 22, making any order beyond statutory powers non-est in law. en-us Fri, 17 Nov 2023 00:00:00 +0530 Mon, 24 Jun 2024 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754436 CESTAT Bangalore held that an appeal abates when NCLT approves a resolution plan under insolvency proceedings. Following Mumbai Bench precedent in Alok Industries Ltd and Gujarat HC ruling, the Tribunal applied Rule 22 of CESTAT (Procedure) Rules, 1982. The court emphasized that as a statutory creature, CESTAT cannot exceed powers vested under statute or rules. Once Interim Resolution Professional is appointed or resolution plan approved, appeals automatically abate per Rule 22, making any order beyond statutory powers non-est in law. Case-Laws Customs Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754436