https://www.taxtmi.com/caselaws?id=788235 Where surrounding facts and conduct demonstrated invocation of insolvency proceedings for purposes other than genuine resolution, the article explains that Section 65 permits termination of CIRP and imposition of penal liability when invocation is fraudulent or malicious; the conclusion affirms termination and penalty against the petitioner. It further states that, where the CoC is non-functioning, assets are absent and the RP funds CIRP, equity may justify directing the petitioner to bear penal and compensatory costs including resolution professional fees and CIRP expenses, departing from ordinary cost-bearing norms when the factual matrix warrants it. en-us Tue, 17 Mar 2026 00:00:00 +0530 Thu, 19 Mar 2026 08:59:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788235 Where surrounding facts and conduct demonstrated invocation of insolvency proceedings for purposes other than genuine resolution, the article explains that Section 65 permits termination of CIRP and imposition of penal liability when invocation is fraudulent or malicious; the conclusion affirms termination and penalty against the petitioner. It further states that, where the CoC is non-functioning, assets are absent and the RP funds CIRP, equity may justify directing the petitioner to bear penal and compensatory costs including resolution professional fees and CIRP expenses, departing from ordinary cost-bearing norms when the factual matrix warrants it. Case-Laws IBC Tue, 17 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788235