What are the punitive measures that can be administered by the Adjudicating Authority under the Code?

The Adjudicating Authority is empowered to take effective measures to ensure compliance with the provisions of the Code. Its powers are not restricted to issuing directions alone. In Vikram Puri (Suspended Directors) & Anr. v. Universal Buildwell Private Limited & Anr. , the NCLAT held that: The Adjudicating Authority can issue non-bailable warrants against persons who fail to comply with its directions. It may also recommend initiation of prosecution proceedings against the suspended directors of the Corporate Debtor. It can impose penalty under various provisions of the Code like under Section 65 of IBC if, any person initiates the insolvency resolution process or liquidation/voluntary liquidation proceedings or pre-packaged insolvency resolution process 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 from one lakh to one crore rupees. Other provisions where punitive powers can be exercised by the Adjudicating Authority are: Chapter VII of Part II (Sections 68-77A) – Offences and penalties relating to corporate insolvency. Chapter VII of Part III (Sections 184-187) – Offences and penalties relating to individual insolvency and bankruptcy.