False information in insolvency proceedings attracts criminal liability and fines; dishonest creditor voting promises are separately punishable. Section 184 criminalises the act of supplying materially false information to the resolution professional during the insolvency resolution process, punishable by imprisonment, fine, or both. It also penalises a creditor who dishonestly promises to vote for a repayment plan in exchange for money, property or security, with imprisonment and a fine tied to the value accepted, and an upper cap where value cannot be quantified.
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 proceedings attracts criminal liability and fines; dishonest creditor voting promises are separately punishable.
Section 184 criminalises the act of supplying materially false information to the resolution professional during the insolvency resolution process, punishable by imprisonment, fine, or both. It also penalises a creditor who dishonestly promises to vote for a repayment plan in exchange for money, property or security, with imprisonment and a fine tied to the value accepted, and an upper cap where value cannot be quantified.
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