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Section 77: Punishment for providing false information in application made by corporate debtor.

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

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 it to be material; or

(b) any person who knowingly and wilfully authorised or permitted the furnishing of such information under sub-clause (a),

such corporate debtor or person, as the case may be, 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 which may extend to one crore rupees, or with both.

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Where this provision sits

ActThe Insolvency and Bankruptcy Code, 2016.
Section77
Marginal notePunishment for providing false information in application made by corporate debtor.
JurisdictionCentral
StatusIn force as published by the source
Judgments citing it2

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.

  • omitted, Act 26 of 2021. .The Explanation omitted by Act 26 of 2021, s. 12 (w.e.f. 4-4-2021).

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