https://www.taxtmi.com/acts?id=31043 Penalty is attracted where insolvency-related proceedings are initiated fraudulently, maliciously, or for a purpose other than resolution of insolvency. The provision covers initiation of insolvency resolution process, liquidation proceedings, voluntary liquidation proceedings, and pre-packaged insolvency resolution process or creditor-initiated insolvency resolution process when commenced with intent to defraud any person. The adjudicating authority may impose a penalty of not less than one lakh rupees and up to one crore rupees. en-us Tue, 02 Jan 2018 14:52:29 +0530 Thu, 09 Apr 2026 18:19:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31043 Penalty is attracted where insolvency-related proceedings are initiated fraudulently, maliciously, or for a purpose other than resolution of insolvency. The provision covers initiation of insolvency resolution process, liquidation proceedings, voluntary liquidation proceedings, and pre-packaged insolvency resolution process or creditor-initiated insolvency resolution process when commenced with intent to defraud any person. The adjudicating authority may impose a penalty of not less than one lakh rupees and up to one crore rupees. Act-Rules IBC Tue, 02 Jan 2018 14:52:29 +0530 https://www.taxtmi.com/acts?id=31043