The Insolvency and Bankruptcy Code, 2016

Punishment for offences related to pre-packaged insolvency resolution process (1) Where– (a) a corporate debtor provides any information the application under section 54C which is false in material particulars, knowing it to be false or omits any material fact, knowing it to be material; or (b) a corporate debtor provides any information in the list of claims […]

Punishment for providing false information in application made by corporate debtor Where- (a) a corporate debtor provides information in the application under section 10 which is false in material particulars, knowing it to be false and omits any material fact, knowing it to be material; or (b) any person who knowingly and wilfully authorised or permitted the furnishing of such information

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 2[payment] of the unpaid operational debt; or (b) any person who knowingly and wilfully authorised or permitted such

Punishment for false information furnished in application 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

Punishment for contravention of moratorium or the resolution plan (1) Where the corporate debtor or any of its officer violates the provisions of section 14, any such officer who knowingly or wilfully committed or authorised or permitted such contravention shall be punishable with imprisonment for a term which shall not be less than three years, but may extend to five years or

Punishment for false representations to creditors (1) Where any officer of the corporate debtor — (a) on or after the insolvency commencement date, makes a false representation or commits any fraud for the purpose of obtaining the consent of the creditors of the corporate debtor or any of them to an agreement with reference to the affairs of the corporate debtor, during the

Punishment 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

Punishment for falsification of books of corporate debtor On and after the insolvency commencement date, where any person destroys, mutilates, alters or falsifies any books, papers or securities, or makes or is in the knowledge of making of any false or fraudulent entry in any register, books of account or document belonging to the corporate debtor with intent to defraud

Punishment for misconduct in course of corporate insolvency resolution process (1) On or after the insolvency commencement date, where an officer of the corporate debtor — (a) does not disclose to the resolution professional all the details of property of the corporate debtor, and details of transactions thereof, or any such other information as the resolution professional may require; or (b) does not deliver to the resolution professional all or part

Punishment for transactions defrauding creditors 1[If] an officer of the corporate debtor or the corporate debtor– (a) has made or caused to be made any gift or transfer of, or charge on, or has caused or connived in the execution of a decree or order against, the property of the corporate debtor; (b) has concealed or removed any part of the property of the corporate debtor within two months before the date