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of <h1>Section 67A Targets Fraudulent Management in Pre-Packaged Insolvency with Penalties Up to One Crore Rupees.</h1> Section 67A, introduced by the Insolvency and Bankruptcy Code (Amendment) Act, 2021, addresses fraudulent management during the pre-packaged insolvency resolution process. It stipulates that if an officer of the corporate debtor intentionally defrauds creditors or engages in fraudulent activities from the commencement of the pre-packaged insolvency, the Adjudicating Authority may impose a penalty. This penalty, upon application by the resolution professional, ranges from a minimum of one lakh rupees to a maximum of one crore rupees.
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