Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Insolvency and BankruptcyAugust 25, 2020Case LawsAT
The stand as taken by the parties, suggest that the application under Section 10 of the I&B Code was filed by the ‘Corporate Applicant’ fraudulently with malicious intent and not for ‘Resolution’ or ‘Liquidation’ and may attract Section 65 of the I&B Code for penal action. However, as no such order has been passed by the Adjudicating Authority (NCLT), we are not passing any penal order u/s 65 - AT
The stand as taken by the parties, suggest that the application under Section 10 of the I&B Code was filed by the ‘Corporate Applicant’ fraudulently with malicious intent and not for ‘Resolution’ or ‘Liquidation’ and may attract Section 65 of the I&B Code for penal action. However, as no such order has been passed by the Adjudicating Authority (NCLT), we are not passing any penal order u/s 65 - AT
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