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Section 76: Punishment for non-disclosure of dispute or payment of debt by operational creditor.

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

76. Punishment for non-disclosure of dispute or [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 [payment of the unpaid operational debt; or

(b) any person who knowingly and wilfully authorised or permitted such concealment under clause (a),

such operational creditor or person, as the case may be, shall be punishable with imprisonment for a term which shall not be less than one year but 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.

Where this provision sits

ActThe Insolvency and Bankruptcy Code, 2016.
Section76
Marginal notePunishment for non-disclosure of dispute or payment of debt by operational creditor.
JurisdictionCentral
StatusIn force as published by the source
Judgments citing it3

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted, Act 26 of 2018. Subs. by Act 26 of 2018, s. 31, for "repayment" (w.e.f. 6-6-2018).

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