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 […]
Punishment for contravention of moratorium or the resolution plan (1) Where the corporate debtor or any of its officer violates the provisions of section 14, any such officer who knowingly or wilfully committed or authorised or permitted such contravention shall be punishable with imprisonment for a term which shall not be less than three years, but may extend to five years or
Punishment for false representations to creditors (1) Where any officer of the corporate debtor — (a) on or after the insolvency commencement date, makes a false representation or commits any fraud for the purpose of obtaining the consent of the creditors of the corporate debtor or any of them to an agreement with reference to the affairs of the corporate debtor, during the
Punishment for wilful and material omissions from statements relating to affairs of corporate debtor Where an officer of the corporate debtor makes any material and wilful omission in any statement relating to the affairs of the corporate debtor, he shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to
Punishment for falsification of books of corporate debtor On and after the insolvency commencement date, where any person destroys, mutilates, alters or falsifies any books, papers or securities, or makes or is in the knowledge of making of any false or fraudulent entry in any register, books of account or document belonging to the corporate debtor with intent to defraud
Punishment for misconduct in course of corporate insolvency resolution process (1) On or after the insolvency commencement date, where an officer of the corporate debtor — (a) does not disclose to the resolution professional all the details of property of the corporate debtor, and details of transactions thereof, or any such other information as the resolution professional may require; or (b) does not deliver to the resolution professional all or part
Punishment for transactions defrauding creditors 1[If] an officer of the corporate debtor or the corporate debtor– (a) has made or caused to be made any gift or transfer of, or charge on, or has caused or connived in the execution of a decree or order against, the property of the corporate debtor; (b) has concealed or removed any part of the property of the corporate debtor within two months before the date
Punishment for concealment of property. (1) Where any officer of the corporate debtor has, – (i) within the twelve months immediately preceding the insolvency commencement date, – (a) wilfully concealed any property or part of such property of the corporate debtor or concealed any debt due to, or from, the corporate debtor, of the value of ten thousand rupees or more; or (b) fraudulently removed any part of the property of
Copyright is a fundamental concept that protects the work of creators. It gives them exclusive control over how their creations are used, shared, and reproduced. Beyond understanding the core concept of copyright, this article will explore the significance of copyright registration. This process ensures legal protection and empowers creators to have greater control over their work.
Union Budget of 2021 amends the Income Tax Act of 1961 (“Act”) to prohibit depreciation on an organization’s goodwill. The Income Tax Act prohibits depreciation on self-generated goodwill. From 01st February 2021, devaluation on utilizing goodwill of an ownership interest will be not being permissible. Goodwill is specifically immune from the ‘Intangible Assets’ group. Furthermore, on
CA Bhuvnesh Kumar Goyal
Chartered Accountants
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