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of <h1>Section 65: Penalties for Fraudulent Insolvency Proceedings Under Insolvency and Bankruptcy Code, 2016; Includes Pre-Packaged Processes.</h1> Section 65 of the Insolvency and Bankruptcy Code, 2016, addresses penalties for fraudulent or malicious initiation of insolvency or liquidation proceedings. If a person initiates such proceedings with intent other than resolving insolvency or liquidation, or to defraud, the adjudicating authority can impose a penalty ranging from one lakh to one crore rupees. This applies to both general insolvency resolution and voluntary liquidation proceedings. Amendments in 2021 extended these provisions to pre-packaged insolvency resolution processes, maintaining the same penalty range for fraudulent or malicious intents.
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