Mera Samvidhaan All of Insolvency and Bankruptcy Code, 2016

Part II · Chapter VII · Offences and Penalties

72Punishment for wilful and material omissions from statements relating to affairs of corporate debtor.

Section 72 · Part II · Chapter VII · page 86 of the Act

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 five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.

Section 72 of The Insolvency and Bankruptcy Code, 2016 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.