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[Cites 0, Cited by 0] [Section 70(1)] [Section 70] [Entire Act]

Union of India - Subsection

Section 70(1)(f) in Insolvency And Bankruptcy Code, 2016

(f)accounts for any part of the property of the corporate debtor by fictitious losses or expenses, or if he has so attempted at any meeting of the creditors of the corporate debtor within the twelve months immediately preceding the insolvency commencement date, 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: