Falsification of corporate books triggers penal sanctions including imprisonment and fines, or both, after insolvency commencement. On and after the insolvency commencement date, any person who destroys, mutilates, alters or falsifies books, papers or securities of a corporate debtor, or makes or knowingly permits false or fraudulent entries in its registers, books of account or documents with intent to defraud or deceive any person, is punishable by imprisonment for a specified term, or by a monetary fine, or by both.