Where any person furnishes information in the application made under section 7, which is false in material particulars, knowing it to be false or omits any material fact, knowing it to be material, such person shall be punishable with fine which shall not be less than one lakh rupees, but may extend to one crore rupees.
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