The Insolvency and Bankruptcy Code

Punishment for concealment of property

Punishment for transactions defrauding creditors

Punishment for misconduct in course of corporate insolvency resolution process

Punishment for falsification of books of corporate debtor

Punishment for wilful and material omissions from statements relating to affairs of corporate  debtor

Punishment for false representations to creditors

Punishment for contravention of moratorium or the resolution plan

Punishment for false information furnished in application

Punishment for non-disclosure of dispute or payment of debt by operational creditor

Punishment for providing false information in application made by corporate debtor


CHAPTER VII OFFENCES AND PENALTIES 


Where any person furnishes
information in the application made under section 7, which is false in material particulars, knowing it to
be false or omits any material fact, knowing it to be material, such person shall be punishable with fine
which shall not be less than one lakh rupees, but may extend to one crore rupees.


LAWGIST

# 75 Punishment for false information furnished in application