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of <h1>Operational Creditor Faces Penalties for Concealing Dispute or Payment Under Section 76 of Insolvency Code 2016</h1> Under Section 76 of the Insolvency and Bankruptcy Code, 2016, an operational creditor who knowingly conceals a dispute or the full payment of an operational debt in an application under Section 9 is subject to penalties. This applies to both the creditor and any person who authorized such concealment. The penalties include imprisonment for a term ranging from one to five years, a fine between 1 lakh and 1 crore, or both.
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