Fraudulent removal of property prevents creditor distribution; criminalised concealment and transfers without adequate consideration and punishes offenders. Dishonest or fraudulent removal, concealment, delivery or transfer of property without adequate consideration, carried out with intent or knowledge that it will prevent distribution of that property according to law among creditors, is a criminal offence punishable with imprisonment of not less than six months and up to two years, or fine, or both.
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.
Fraudulent removal of property prevents creditor distribution; criminalised concealment and transfers without adequate consideration and punishes offenders.
Dishonest or fraudulent removal, concealment, delivery or transfer of property without adequate consideration, carried out with intent or knowledge that it will prevent distribution of that property according to law among creditors, is a criminal offence punishable with imprisonment of not less than six months and up to two years, or fine, or both.
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