What are the key provisions of Section 74 of IBC and why is it in news?

Amtek Auto lenders are looking to invoke Section 74 of the Insolvency and Bankruptcy Code (IBC) against Liberty House for its failure to comply with the approved resolution plan for the automotive component maker. This would be the first instance that the section would be invoked. Aashish Aryan and Veena Mani explain what invoking the section entails.

What are the key provisions of Section 74 of the IBC?

Section 74 lays down the provisions to penalise officials of corporate debtors, creditors and bidders if and when they violate the moratorium and other terms of a resolution plan as approved by a