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of <h1>Section 69 of Insolvency Code: Penalties for Officers Making Unauthorized Transfers or Concealing Property to Defraud Creditors.</h1> Section 69 of the Insolvency and Bankruptcy Code, 2016, addresses the punishment for transactions defrauding creditors. It applies to officers or the corporate debtor who either make unauthorized transfers or conceal property prior to a judgment or order for payment. The penalty includes imprisonment from one to five years and/or a fine ranging from one lakh to one crore rupees. However, individuals are exempt if the acts occurred over five years before insolvency proceedings or if they can prove no intent to defraud creditors at the time of the acts.
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