Where-
(a) an operational creditor has wilfully or knowingly concealed in an
application under section 9 the fact that the corporate debtor had notified
him of a dispute in respect of the unpaid operational debt or the full and
final repayment of the unpaid operational debt; or
(b) any person who knowingly and wilfully authorised or permitted such concealment under clause (a), such operational creditor or person, as the case may be, shall be punishable with imprisonment for a term which shall not be less than one year but 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