Operational creditor concealment of dispute or payment notice attracts penalty under insolvency law. Contravention arises where an operational creditor conceals, in a section 9 application, a notified dispute or full and final payment of the operational ... Summary
Operational creditor concealment of dispute or payment notice attracts penalty under insolvency law.
Contravention arises where an operational creditor conceals, in a section 9 application, a notified dispute or full and final payment of the operational debt. The provision also covers persons who authorised, permitted, or acted on that concealment. On an application by the Board, the Central Government, or an authorised person, the Adjudicating Authority may impose a penalty within the prescribed monetary limits.
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