Companies Act, 1956
Sec 539 - Penalty for falsification of books.
If with intent to defraud or deceive any person, any officer or contributory of a company which is being wound up
(a) destroys, mutilates, alters, falsifies or secrets, or is privy to the destruction, mutilation, alteration, falsification or secreting of, any books, papers or securities ; or
(b) makes, or is privy to the making of, any false or fraudulent entry in any register book of account or document belonging to the company ;
he shall be punishable with imprisonment for a term which may extend to seven years, and shall also be liable to fine.