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75. Punishment for false information furnished in application.-

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, such person shall be punishable with fine which shall not be less than one lakh rupees, but may extend to one crore rupees.



Insolvency and Bankruptcy Code Act, 2016 Back




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