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Section70
The Insolvency and Bankruptcy Code, 2016

Punishment for misconduct in course of corporate insolvency resolution process

In force Act 31 of 2016 As on 18 Oct 2026

Act 31 of 2016 Ministry Corporate Affairs Enacted 28 May 2016 Instruments 12

Section 70 of the Insolvency and Bankruptcy Code, 2016 deals with punishment for misconduct in course of corporate insolvency resolution process. 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 requi The Act was enacted on 28 May 2016.

(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 of the property of the corporate debtor in his control or custody and which he is required to deliver; or

(c) does not deliver to the resolution professional all books and papers in his control or custody belonging to the corporate debtor and which he is required to deliver; or

(d) fails to inform there solution professional the information in his knowledge that a debt has been falsely proved by any person during the corporate insolvency resolution process; or

(e) prevents the production of any book or paper affecting or relating to the property or affairs of the corporate debtor; or

(f) accounts for any part of the property of the corporate debtor by fictitious losses or expenses, or if he has so attempted at any meeting of the creditors of the corporate debtor within the twelve months immediately preceding the insolvency commencement date,

he shall be punishable with imprisonment for a term which shall not be less than three years, but which may extend to five years, or with fine, which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both:

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 do so in relation to the state of affairs of the corporate debtor.

(2) If an insolvency professional deliberately contravenes the provisions of this Part he shall be punishable with imprisonment for a term which may extend to six months, or with fine which shall not be less than one lakh rupees, but may extend to five lakhs rupees, or with both.

Section 70, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).

Made under this section, and citing it

12 instruments name this provision in its title or its text without being made under it.

All subordinate legislation

Questions about Section 70

What does Section 70 of the Insolvency and Bankruptcy Code deal with?

Section 70 of the Insolvency and Bankruptcy Code is headed "Punishment for misconduct in course of corporate insolvency resolution process". 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 requi

How do I find court cases under Section 70 of the Insolvency and Bankruptcy Code?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 70, section 70 Insolvency and Bankruptcy Code, section 70 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 70 of the Insolvency and Bankruptcy Code, and has it changed?

12 instruments name it without being made under it, most recently Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017 (2017), then Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017 (2017).

When was Section 70 of the Insolvency and Bankruptcy Code enacted?

Section 70 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 70, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 18 Oct 2026. This page is not a substitute for legal advice.