Penalty for fraudulent initiation of pre-pack insolvency: authority may impose substantial fines for malicious or defrauding intent.

The amendment inserts a new subsection empowering the Adjudicating Authority to impose monetary penalties when a person initiates the pre packaged insolvency resolution process fraudulently, with malicious intent for non resolution purposes, or with intent to defraud any person, specifying a statutory minimum and maximum sanction.

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