On and after the insolvency commencement date, where any person destroys, mutilates, alters or falsifies any books, papers or securities, or makes or is in the knowledge of making of any false or fraudulent entry in any register, books of account or document belonging to the corporate debtor with intent to defraud or deceive any person, 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.
Insolvency and Bankruptcy Code 2016
Section 71 Punishment for falsification of books of corporate debtor
Section 73 Punishment for false representations to creditors
Section 74 Punishment for contravention of moratorium or the resolution plan
Section 75 Punishment for false information furnished in application
Section 76 Punishment for nondisclosure of dispute or repayment of debt by operational creditor
Section 77 Punishment for providing false information in application made by corporate debtor