Punishment for false information furnished in application [ Section 75 ] - Insolvency Resolution And Liquidation For Corporate Persons - IBC

Punishment for false information furnished in application [ Section 75 of the IBC, 2016 ] Offence Where any person furnishes information in the application made under section 7 , which is false in material particulars, knowing it to be false or omits any material fact, knowing it to be material, Liability Any Person Penalty such person shall be punishable with fine which shall not be less than one lakh rupees, but may extend to ₹ 1 crore.