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of <h1>Violations Under Section 424L: Penalties Include Up to Three Years Imprisonment or Fines for False Evidence and Record Tampering.</h1> Section 424L of the Companies Act, 1956, addresses penalties for certain offenses related to the revival and rehabilitation of sick industrial companies. It stipulates that any individual who violates provisions, schemes, or orders of the Tribunal or Appellate Tribunal, provides false statements or evidence, or tampers with records, faces simple imprisonment up to three years or a fine not exceeding ten lakh rupees. Prosecution for such offenses requires a written complaint by an authorized officer of the Tribunal, Appellate Tribunal, Central Government, or an authorized operating agency officer.
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