An offence under Section 66(2) of IBC where an officer of the corporate debtor, knowing that there was no reasonable prospect of avoiding insolvency, continued to incur debts. The NCLT can make such persons personally liable.
Last updated: 17 May 2026
An offence under Section 66(2) of IBC where an officer of the corporate debtor, knowing that there was no reasonable prospect of avoiding insolvency, continued to incur debts. The NCLT can make such persons personally liable.
Wrongful Trading is significant under IBC because An offence under Section 66(2) of IBC where an officer of the corporate debtor, knowing that there was no reasonable prospect of avoiding insolvency, continued to incur debts. The NCLT can make such persons personally liable.
Wrongful Trading under IBC applies to companies, professionals, and individuals involved in IBC-related compliance and regulatory matters in India. Specifically: An offence under Section 66(2) of IBC where an officer of the corporate debtor, knowing that there was no reasonable prospect of avoiding insolvency, ...