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of <h1>Penalties Under Section 77A for False Information in Pre-Packaged Insolvency: Imprisonment and Fines for Violators.</h1> Section 77A of the Insolvency and Bankruptcy Code, 2016, addresses penalties for providing false information during the pre-packaged insolvency resolution process. If a corporate debtor knowingly submits false or incomplete material information during the application or in claims lists, or if a person authorizes such actions, they face imprisonment from three to five years and/or fines ranging from one lakh to one crore rupees. Directors or partners who deliberately violate related provisions also face similar penalties. An application is deemed false if omitted or incorrect facts would have affected the determination of a default.
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