Punishment for wilful and material omissions from statements relating to affairs of corporate debtor
Section 72 of the Insolvency and Bankruptcy Code, 2016 deals with 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 five years, or with fine which shall The Act was enacted on 28 May 2016.
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 five years, or with fine which shall not be less than one lakh rupees, but may extend to one crore rupees, or with both.
Section 72, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Questions about Section 72
What does Section 72 of the Insolvency and Bankruptcy Code deal with?
Section 72 of the Insolvency and Bankruptcy Code is headed "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 five years, or with fine which shall
How do I find court cases under Section 72 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 72, section 72 Insolvency and Bankruptcy Code, section 72 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.
When was Section 72 of the Insolvency and Bankruptcy Code enacted?
Section 72 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 72, 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
- 240. Power to make regulations2349 words
- 5. Definitions2326 words
- 3. Definitions1381 words
- 29A. Person not eligible to be resolution applicant1152 words
- 239. Power to make rules963 words
- 196. Powers and functions of Board942 words
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 19 Oct 2026. This page is not a substitute for legal advice.