Punishment of Concealment of Property detail of offences [ Section 68 ]

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..... fines, or both. Punishment of Concealment of Property detail of offences [ Section 68 of the IBC, 2016 ] Where any officer of the corporate debtor has,- (i) within the 12 months immediately preceding the insolvency commencement date,- Where the Value is 10,000/- or More (a) wilfully concealed any property or part of such property of the corporate debto .....

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..... ebtor or its affairs; or (f) wilfully created any security interest over, transferred or disposed of any property of the corporate debtor which has been obtained on credit and has not been paid for unless such creation, transfer or disposal was in the ordinary course of the business of the corporate debtor; or (g) wilfully concealed the knowledge of the doing by others .....

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..... ( Imprisonment Minimum Three year imprisonment and Fine One Lakh Indian Rupees fine if found Guilty ) Provided that nothing in this section shall render a person liable to any punishment under this section if he proves that he had no intent to defraud or to conceal the state of affairs of the corporate debtor - Manuals - Ready reckoner - Law and practice - Reference Guide - Qu .....

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