Section 71 of Insolvency and Bankruptcy Code 2016

[ Note : Section 71  comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ]

Punishment for falsification of books of corporate debtor.

71. 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, book of account or document belonging to the corporate debtor with intent to defraud or deceive any person, 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.