Residual penalty provision under insolvency law creates a catch-all fine for contraventions without specific punishment. Insertion of section 235A creates a residual penalty provision for contraventions of the Insolvency and Bankruptcy Code, its rules, or regulations where no specific punishment is otherwise provided. It applies as a catch-all enforcement mechanism for breaches not covered by another penal clause and prescribes a fine with a stated minimum and maximum limit.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Residual penalty provision under insolvency law creates a catch-all fine for contraventions without specific punishment.
Insertion of section 235A creates a residual penalty provision for contraventions of the Insolvency and Bankruptcy Code, its rules, or regulations where no specific punishment is otherwise provided. It applies as a catch-all enforcement mechanism for breaches not covered by another penal clause and prescribes a fine with a stated minimum and maximum limit.
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