Section 186 of IBC : Section 186: Punishment For False Information, Concealment, Etc, By Bankrupt

IBC

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Explanation using Example

Example:

John, a small business owner, has accumulated significant debt and is unable to meet his financial obligations. He decides to file for bankruptcy under section 122 of the Insolvency and Bankruptcy Code, 2016. During the bankruptcy process, John is required to disclose all his assets and liabilities to the resolution professional.

However, John intentionally omits to disclose that he recen...

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Explanation using Example

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