Lawgist76Punishment for non-disclosure of dispute or payment of debt by operational creditor
76. Punishment for non-disclosure of dispute or 1 [payment] of debt by operational creditor.— Where—
(a) an operational creditor has wilfully or knowingly concealed in an application under section 9 the fact that the corporate debtor had notified him of a dispute in respect of the unpaid operational debt or the full and final 1 [payment of the unpaid operational debt; or
(b) any person who knowingly and wilfully authorised or permitted such concealment under clause (a),
such operational creditor or person, as the case may be, shall be punishable with imprisonment for a term which shall not be less than one year but 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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1 Subs. by Act 26 of 2018, s. 31, for "repayment" (w.e.f. 6-6-2018).
- 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
