Appeal abates with effect from date of approval of resolution plan by NCLT

Murli Industries Ltd. Vs Commissioner of Central Excise & Customs (CESTAT Mumbai)

It is not disputed that the Resolution Plan for the appellant company was approved by Learned NCLT vide its orders dated 3.7.2019 and 22.7.2019. As per Section 31(1) of I&B Code, once a resolution plan is duly approved by the Adjudicating Authority, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors including the Central Government, any State

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