Section 65(3) in Insolvency And Bankruptcy Code, 2016
(3)[ If any person initiates the pre-packaged insolvency resolution process -(a)fraudulently or with malicious intent for any purpose other than for the resolution of insolvency; or(b)with the intent to defraud any person,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.] [Inserted by Act No. 26 of 2021.]
