Corporate Applicant's Fraudulent Intent in Insolvency Filing u/s 10; No Penal Order Issued Yet u/s 65.

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....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....