[67A. Fraudulent management of corporate debtor during pre-packaged insolvency resolution process.--On and after the pre-packaged insolvency commencement date, where an officer of the corporate debtor manages its affairs with the intent to defraud creditors of the corporate debtor or for any fraudulent purpose, the Adjudicating Authority may, on an application by the resolution professional, pass an order imposing upon any such officer, a penalty which shall not be less than one lakh rupees, but may extend to one crore rupees.]
Section 67A: Fraudulent management of corporate debtor during pre-packaged insolvency resolution process
The Insolvency and Bankruptcy Code, 2016.Central Act · Act 31 of 2016
Where this provision sits
| Act | The Insolvency and Bankruptcy Code, 2016. |
|---|---|
| Section | 67A |
| Marginal note | Fraudulent management of corporate debtor during pre-packaged insolvency resolution process |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- inserted, Act 26 of 2021. . Ins. by Act 26 of 2021, s. 11 (w.e.f. 4-4-2021).
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