Fraudulent or malicious initiation of proceedings [ Section 65  ]

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....edings fraudulently or with malicious intent for any purpose other than for the resolution of insolvency, or liquidation, as the case may be, the adjudicating authority may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees. Penalty to defraud any person [ Section 65(2) of the IBC, 2016 ] * If, any person initiates voluntary liquid....

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....h section 65 provides for penal action against initiating CIRP with a fraudulent or malicious intent, the same cannot be construed to mean that if an application is filed under section 7, 9 or 10 of the Code without any malicious or fraudulent intent, then also such a petition can be rejected by the AA on the ground that the intent of the applicant was not resolution. * Unigreen Global Pvt. Ltd.....

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.... the corporate applicant, therefore, the impugned order of AA cannot be upheld as being passed in violation of rules of natural justice. * Amit Katyal Vs. Meera Ahuja & Ors. 2020 (11) TMI 356 - NCLAT Dated 09.11.2020 * i. In case an allottee does not want to go ahead with its obligation to take possession of the flat, but wants to get back the monies already paid, by way of coercive measure, t....