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of <h1>Section 105 of Companies Act 1956: Penalties for Officers Concealing or Misrepresenting Creditor Information Include Imprisonment and Fines.</h1> Section 105 of the Companies Act, 1956, under the Companies Law regarding Share Capital and Debentures, stipulates penalties for company officers who conceal or misrepresent creditor information. If an officer knowingly hides a creditor's name, misrepresents the nature or amount of a debt, or is involved in such actions, they face penalties. These penalties include imprisonment for up to one year, a fine, or both.
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