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of <h1>Penalties Under Section 68 of Insolvency Code: Fraudulent Acts by Officers of Corporate Debtor Lead to Jail and Fines.</h1> Section 68 of the Insolvency and Bankruptcy Code, 2016, outlines penalties for officers of a corporate debtor who engage in fraudulent activities related to the debtor's property within twelve months before or after the insolvency commencement date. Offenses include concealing or falsifying property or documents, fraudulently transferring property, and knowingly receiving secured property. Violators face imprisonment from three to five years, a fine ranging from one lakh to one crore rupees, or both. However, no punishment is imposed if the individual proves a lack of intent to defraud or conceal the corporate debtor's affairs.
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