Operational creditor concealment of dispute or payment notice attracts penalty under insolvency law. Contravention arises where an operational creditor conceals, in a section 9 application, a notified dispute or full and final payment of the operational debt. The provision also covers persons who authorised, permitted, or acted on that concealment. On an application by the Board, the Central Government, or an authorised person, the Adjudicating Authority may impose a penalty within the prescribed monetary limits.
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.
Operational creditor concealment of dispute or payment notice attracts penalty under insolvency law.
Contravention arises where an operational creditor conceals, in a section 9 application, a notified dispute or full and final payment of the operational debt. The provision also covers persons who authorised, permitted, or acted on that concealment. On an application by the Board, the Central Government, or an authorised person, the Adjudicating Authority may impose a penalty within the prescribed monetary limits.
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