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Section 184: Punishment for false information, etc., by creditor in insolvency resolution process.

The Insolvency and Bankruptcy Code, 2016.Central Act · Act 31 of 2016

(1) If a debtor or creditor provides information which is false in any material particulars to the resolution professional, he shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to five lakh rupees, or with both.

(2) If a creditor promises to vote in favour of the repayment plan dishonestly by accepting any money, property or security from the debtor, he shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to three times the amount or its equivalent of such money, property or security accepted by such creditor, as the case may be, or with both:

Provided that where such amount is not quantifiable, the total amount of fine shall not exceed five lakh rupees.

Where this provision sits

ActThe Insolvency and Bankruptcy Code, 2016.
Section184
Marginal notePunishment for false information, etc., by creditor in insolvency resolution process.
JurisdictionCentral
StatusIn force as published by the source

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