False information in insolvency applications triggers criminal penalties, including imprisonment or fines for the responsible parties. Providing materially false information in an application under section 10 by a corporate debtor, or knowingly authorising such information, is a criminal offence punishable by imprisonment, fine, or both, with statutory minimum and maximum bounds; an explanatory clause previously defining false applications was later omitted by amendment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
False information in insolvency applications triggers criminal penalties, including imprisonment or fines for the responsible parties.
Providing materially false information in an application under section 10 by a corporate debtor, or knowingly authorising such information, is a criminal offence punishable by imprisonment, fine, or both, with statutory minimum and maximum bounds; an explanatory clause previously defining false applications was later omitted by amendment.
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