LawgistThe Insolvency and Bankruptcy Code
72Punishment for wilful and material omissions from statements relating to affairs of corporate debtor
Where an officer of the corporate debtor makes any material and wilful omission in any statement relating to the affairs of the corporate debtor, he shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.
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CHAPTER VII OFFENCES AND PENALTIES
- 68 Punishment for concealment of property
- 69 Punishment for transactions defrauding creditors
- 70 Punishment for misconduct in course of corporate insolvency resolution process
- 71 Punishment for falsification of books of corporate debtor
- 72 Punishment for wilful and material omissions from statements relating to affairs of corporate debtor
- 73 Punishment for false representations to creditors
- 74 Punishment for contravention of moratorium or the resolution plan
- 75 Punishment for false information furnished in application
- 76 Punishment for non-disclosure of dispute or payment of debt by operational creditor
- 77 Punishment for providing false information in application made by corporate debtor
