Punishment for offences related to pre-packaged insolvency resolution process Section 77A: Punishment for offences related to pre-packaged insolvency resolution process. 1[77A. (1) Where— (a) a corporate debtor provides any information in the application under section 54C which is false in material particulars, knowing it to be false or omits any material fact, knowing it to … Read more
Punishment for providing false information in application made by corporate debtor Section 77: Punishment for providing false information in application made by corporate debtor. *77. 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 … Read more
Punishment for non-disclosure of dispute or payment of debt by operational creditor Section 76: Punishment for non-disclosure of dispute or payment of debt by operational creditor. *76. 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 … Read more
Punishment for false information furnished in application Section 75: Punishment for false information furnished in application. *75. 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 … Read more
Punishment for contravention of moratorium or the resolution plan Section 74: Punishment for contravention of moratorium or the resolution plan. *74. (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 … Read more
Punishment for false representations to creditors Section 73: Punishment for false representations to creditors. *73. 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 … Read more
Punishment for wilful and material omissions from statements relating to affairs of corporate debtor Section 72: Punishment for wilful and material omissions from statements relating to affairs of corporate debtor. *72. Where an officer of the corporate debtor makes any material and wilful omission in any statement relating to the affairs of the corporate debtor, … Read more
Punishment for falsification of books of corporate debtor Section 71: Punishment for falsification of books of corporate debtor. *71. 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 … Read more
Punishment for misconduct in course of corporate insolvency resolution process Section 70: Punishment for misconduct in course of corporate insolvency resolution process. *70. (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, … Read more
Punishment for transactions defrauding creditors Section 69: Punishment for transactions defrauding creditors. *69. 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 … Read more