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Shri Hardev Chand Verma v. Kolkata-iv
IN THE CUSTOMS, EXCISE AND SERVICE TAX APPELLATE TRIBUNAL
EASTERN ZONAL BENCH : KOLKATA
REGIONAL BENCH - COURT NO. 1
Excise Appeal No. 75778 of 2015
(Arising out of Order-in-Original No. 11-12/Commissioner/CE/Kol-IV/2015 dated 30.04.2015 passed by the Commissioner of Central Excise, Commissionerate:
Kolkata-IV, M.S. Building, 15/1, Strand Road, Kolkata - 700 001)
APPEARANCE:
Shri H.K. Pandey, Advocate for the Appellant Shri P.K. Ghosh, Authorized Representative for the Respondent
CORAM:
HON'BLE SHRI ASHOK JINDAL, MEMBER (JUDICIAL) HON'BLE SHRI K. ANPAZHAKAN, MEMBER (TECHNICAL)
FINAL ORDER NO. 76491 / 2024
DATE OF HEARING / DECISION: 26.07.2024
ORDER: [PER SHRI ASHOK JINDAL]
The appellant is in appeal against the impugned order wherein a penalty of Rs.1,46,50,563/- has been imposed against the appellant / Director of the company under Rule 26(1) of the Central Excise Rules, 2002.
2. Today when the matter was called for hearing, the Ld. Counsel appearing on behalf of the appellant submits that the main company has gone into Liquidation and as per the Order of the National Company Law Tribunal (NCLT) dated 05.09.2019 approving the Resolution Plan, the employees, officers
Shri Hardev Chand Verma, Director, M/s. Bhushan Power & Steel Limited
NH-2, Delhi Road, Vill.: - Bangihati, P.O.: - Mallickpara, District: Hooghly, PIN - 712 203
: Appellant
VERSUS
Commissioner of Central Excise
Commissionerate: Kolkata-IV, M.S. Building, 15/1, Strand Road, Kolkata - 700 001
: Respondent
1
Page 2 of 2
Appeal No.: E/75778/2015-DB and workmen of the Corporate Debtor are discharged from the liability as per Section 33 (7) of the Insolvency and Bankruptcy Code, 2016. Therefore, it is submitted that the penalty imposed on the appellant is not imposable.
3. Heard both sides and considered the submissions made by the Ld. Counsel for the appellant.
4. We find that the National Company Law Tribunal (NCLT) vide its Order dated 05.09.2019 has discharged the appellant from the liability on behalf of the Company. Therefore, the impugned order against the appellant will not survive.
5. Accordingly, the appeal is disposed of and there shall be no recovery towards penalty imposed in the impugned order.
(Operative part of the order was pronounced in open court)
(ASHOK JINDAL)
MEMBER (JUDICIAL)
(K. ANPAZHAKAN)
MEMBER (TECHNICAL)
Sdd
Sd/-
Sd/-
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