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Punishment for offences related to pre-packaged insolvency resolution process [ Section 77A ]

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Full Text of the Document

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.... [ Section 77A(1) ] Offences * Where- * (a) a corporate debtor provides any information in the application under section 54C which is false in material particulars, knowing it to be false or omits any material fact, knowing it to be material; or * (b) a corporate debtor provides any information in the list of claims or the preliminary information memorandum submitted under sub-section (1) o....

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Full Text of the Document

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....the provisions [ Section 77A(2) ] Offence * If a director or partner of the corporate debtor, as the case may be, deliberately contravenes the provisions of Chapter III-A, Liability * Such Director or Partner Penalty * such person shall be punishable * with imprisonment for not less than three years, but which may extend to five years, or * with fine which shall not be less than &....