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S. G. PANDIT, C. M. POONACHA
Patanjali Foods Limited – Appellant
Versus
Commissioner Of Central Excise And Service Tax – Respondent
JUDGMENT :
(PER: HON'BLE MR JUSTICE C.M. POONACHA)
The present appeal is filed by the assessee under Section 35G of the Central Excise Act, 1944[Hereinafter referred to as ‘Act of 1944’] challenging the Final Order No.21234/2023 dated 9.11.2003 passed in Excise Appeal No.25387/2013 by the Customs, Excise and Service Tax Appellate Tribunal, Bangalore[Hereinafter referred to as ‘CESTAT’].
2. The facts in brief leading to the present appeal are that the assessee (originally known as Ruchi Soya Industries Limited) is engaged in the manufacture of Edible Refined Oils and having its factory at Baikampady Industrial Area, Mangaluru. Consequent to the show cause notice dated 26.3.2012 issued by the respondent, Order-in-Original was passed on 2.11.2012 and issued on 8.11.2012, wherein the Commissioner of Central Excise and Sale Tax, Mangaluru, Hereinafter referred to as ‘Commissioner’, ordered, inter alia, that an amount of Rs.8,06,44,997/-being the Central Excise Duty on “RBD Palm Stearin” manufactured and removed, during the period 14.7.2009 to 26.8.2011 was confirmed. An amount of Rs.2,97,29,891/-paid by the assessee was appropriated against the said demand and the remaining duty of Rs.5,09
Claims not part of an approved resolution plan under the IBC are extinguished, and appeals cannot abate under Rule 22 when a resolution plan allows for business continuity.
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Once a resolution plan is approved under the Insolvency and Bankruptcy Code, claims not presented during insolvency proceedings are extinguished, prohibiting further recovery actions by revenue autho....
The approval of a resolution plan under the IBC extinguishes all claims not included in the plan, including tax liabilities.
The approval of a resolution plan under the IBC extinguishes all claims not included in the plan, thereby entitling the petitioner to a refund of pre-deposits made during appeals against extinguished....
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