Law · Insolvency and Bankruptcy Code
Under the Insolvency and Bankruptcy Code, providing false information in the insolvency process attracts a maximum punishment of up to:
- 13 years imprisonment or ₹5 lakh fine
- 22 years imprisonment or ₹10 lakh fine
- 31 year imprisonment or ₹5 lakh fine, or both✓
- 46 months imprisonment or ₹1 lakh fine
Correct answer
1 year imprisonment or ₹5 lakh fine, or both
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