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Section 75 - Insolvency and Bankruptcy Code Act, 2016
75. 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 one crore rupees.
Related Sections
- Section 125: Appointment of insolvency professional as bankruptcy trustee
- Section 124: Effect of application
- Section 118: Repayment plan coming to end prematurely
- Section 16: Appointment and tenure of interim resolution professional
- Section 86: Objections by creditor and their examination by resolution professional
Related Acts
* Only for reference.