68 Punishment for Any officer of the Imprisonment – 3 to 5 concealment of corporate debtor years; or Property Fine – Rs. 1 lakh to Rs. 1 crore; or Both 69 Punishment for Any officer of the Imprisonment – 1 to 5 transactions corporate debtor or years; or defrauding creditors the Corporate Fine – Rs. 1 lakh to Rs. 1 Debtor crore; or Both 70(1) Punishment for Any officer of the Imprisonment – 3 to 5 misconduct in course corporate debtor years; or of corporate Fine – Rs. 1 lakh to Rs. 1 insolvency resolution crore; or process Both 70(2) Punishment for Insolvency Imprisonment – upto 6 misconduct in course Professional months; or of corporate Fine – Rs. 1 lakh to Rs. 5 insolvency resolution lakhs; or process Both 71 Punishment for Any person Imprisonment – 3 to 5 falsification of books years; or of corporate debtor. Fine - Rs. 1 lakh to Rs. 1 crore; or Both 72 Punishment for Any officer of the Imprisonment – 3 to 5 wilful and material corporate debtor years; or omissions from Fine – Rs. 1 lakh to Rs. 1 statements relating to crore; or affairs of corporate Both debtor. 73 Punishment for false Any officer of the Imprisonment – 3 to 5 representations to corporate debtor years; or creditors. Fine – Rs. 1 lakh to Rs. 1 crore; or Both 74(1) Punishment for Any officer of the Imprisonment – 3 to 5 contravention of Corporate Debtor years; or moratorium or the Fine – Rs. 1 lakh to Rs. 3 resolution plan. lakh; or Both 74(2) Punishment for Any person Imprisonment – 1 to 5 contravention of years. moratorium or the Fine – Rs. 1 lakh to Rs. 1 resolution plan. crore; or Both 74(3) Punishment for Corporate debtor, Imprisonment – 1 to 5 contravention of any officer of the years; or moratorium or the corporate debtor, Fine – Rs. 1 lakh to Rs. 1 resolution plan. creditor or any crore; or person Both 75 Punishment for false Any person Fine – Rs. 1 lakh to Rs. 1 information crore. furnished in application. 76 Punishment for non- Operational Imprisonment – 1 to 5 disclosure of dispute Creditor or any years; or or repayment of debt person Fine – Rs. 1 lakh to Rs. 1 by operational crore; or creditor. Both 77 Punishment for Corporate Debtor or Imprisonment – 3 to 5 providing false any person years; or information in Fine – Rs. 1 lakh to Rs. 1 application made by crore; or corporate debtor. Both Offences and Penalties under Part III of the Code
Section Section Heading Who is Liable? Punishment
184(1) Punishment for false Debtor or Creditor Imprisonment – 1 year; or information, etc., by Fine – Rs. 5 lakh ; or creditor in Both insolvency resolution process. 184(2) Punishment for false Creditor Imprisonment – 2 years; or information, etc., by Fine – Three times the creditor in amount or its equivalent of insolvency resolution such money, property or process. security; upto 5 lakh or Both
185 Punishment for Insolvency Imprisonment – 6 months;
contravention of Professional or provisions. Fine – Rs. 1 lakh to Rs. 5 lakh; or Both 186(a) Punishment for false Bankrupt Imprisonment – 6 months; information, or concealment, etc., by Fine – Rs. 5 lakh; or bankrupt Both 186(b) Punishment for false Bankrupt Imprisonment –1 year; or information, Fine – Rs. 5 lakh; or concealment, etc., by Both bankrupt 186(c) Punishment for false Bankrupt Imprisonment – 6 months; information, or concealment, etc., by Fine – Rs. 5 lakh; or bankrupt Both 186(d) Punishment for false Bankrupt Imprisonment – 6 months; information, or concealment, etc., by Fine – Rs. 5 lakh; or bankrupt Both 186(e) Punishment for false Bankrupt Imprisonment – 2 years; or information, Fine – Three times of the concealment, etc., by value of the loss; or bankrupt Both 186(f) Punishment for false Bankrupt Imprisonment - 1 year; or information, Fine – Rs. 5 lakh; or concealment, etc., by Both bankrupt 187 Punishment for Bankruptcy Trustee Imprisonment – 3 years; or certain actions. Fine – Three times the amount of the loss caused, or likely to have been caused; upto 5 lakh; or Both