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<h1>Officers of corporate debtors face penalties for false representations under Section 73 of Insolvency and Bankruptcy Code 2016.</h1> Under Section 73 of the Insolvency and Bankruptcy Code, 2016, any officer of a corporate debtor who makes false representations or commits fraud to secure creditor consent during insolvency resolution or liquidation processes is liable for punishment. This applies to actions taken both before and after the insolvency commencement date. The penalties include imprisonment ranging from three to five years, a fine between one lakh and one crore rupees, or both.