valid as on 21/04/2019

IBC Section 72-Punishment for wilful and material omissions from statements relating to affairs of corporate debtor.
Effective from 01.12.2016

Where an officer of the corporate debtor makes any material and wilful omission in any statement relating to the affairs of the corporate debtor, 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.

IBC-Enforcement Notification [S.O.3594(E)] dated 30/11/2016


CAIRR PLUS on Google Playsecretarial automation?Subscribe for Updates