The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that excise Order against a liquidated company is not sustainable. The Tribunal found that the National Company Law Tribunal (NCLT) had allowed the application of the Resolution Professional and ordered liquidation of the Company/Corporate Debtor.
The appellant, Transstroy (India ) Ltd. challenged the Order-In-Appeal No. passed by Commissioner of Central Excise (Appeals), Madurai. Shri G. Natarajan, Advocate who filed vakalat earlier in this matter brings to the notice of the Bench that NCLT vide order dt. 18.09.2019 has ordered liquidation of the appellant-company and produced a copy of same. Shri Harendra Singh Pal appeared for the Respondent.
The NCLT had allowed the application of the Resolution Professional and ordered liquidation of the Company/Corporate Debtor. Hence, the present appeal could not survive, since the appeal would stand abated, in view of the decision of the Apex Court in the case of Ghanashyam Mishra and Sons Pvt. Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd. & Ors.
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It was found that the CESTAT Benches have been consistently holding the abatement of appeals, wherever the Resolution Plan is shown to have accepted by the Adjudicating Authority, including Chennai Bench, in the case of M/s.Orchid Chemicals & Pharmaceuticals Ltd., Vs. Commissioner of GST & Central Excise, Chennai.
A two member bench of P. Dinesha, Member (Judicial) and M. Ajit Kumar, Member(Technical) found that the present appeal is filed by the appellant-assessee, who is praying for the closure of appeal in view of their resolution plan being accepted by the NCLT. Respectfully, therefore following the above ratio of the coordinate Bench, the bench held that the present appeal shall also stand abated.
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