Punishment for false information, concealment, etc., by bankrupt.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... pplication for bankruptcy under section 122 or while providing any information during the bankruptcy process, he shall be punishable with imprisonment which may extend to six months, or with fine which may extend to five lakh rupees, or with both; Explanation .- For the purposes of clause (a), a false representation or omission includes non-disclosure of the details of disposal of any proper .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... session of any property comprised in the estate of the bankrupt under his possession or control, which he is required to deliver under section 156, he shall be punishable with imprisonment for a term which may extend to six months, or with fine, which may extend to five lakh rupees, or with both; (e) has failed to account, without any reasonable cause or satisfactory explanation, for any loss i .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... to have absconded if he leaves, or attempts to leave the country without delivering the possession of any property which he is required to deliver to the bankruptcy trustee under section 156. *********** Notes:- 1. Come into the force w.e.f. 01-12-2019 [F. No. 30/21/2018-Insolvency Section]. S.O. 4126(E) Dated 15-11-2019 - - statute, statutory provisions .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X