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PART II INSOLVENCY RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS · CHAPTER VI ADJUDICATING AUTHORITY FOR CORPORATE PERSONS

Section 64A: Penalty for initiating frivolous or vexatious proceedings under Part II

The Insolvency and Bankruptcy Code, 2016

1[If any person has initiated a frivolous or vexatious proceeding before the Adjudicating Authority under this Part, it may impose upon such person a penalty which shall not be less than one lakh rupees, but may extend to two crore rupees.]

Footnotes in the official text

  1. 1.Ins. by s. 44, ibid. (w.e.f. 26-05-2026).

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