Section 95: Penalty on concealment of name of creditor
The Companies Act, 2017 · Federal Acts · in_force
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95. Penalty on concealment of name of creditor.—If any officer of the company conceals the name of any creditor entitled to object to the reduction, or willfully misrepresents the nature or amount of the debt or claim of any creditor, or if any officer of the company abets any such concealment or misrepresentation as aforesaid, every such officer shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to five million rupees, or with both.
Effective date: 2017-05-30
Related sections
Section 94: Liability of members in respect of reduced sharesSection 96: Publication of reasons for reductionSection 93: Registration of order of reductionSection 97: Increase and reduction of share capital in case of a company limited by guaranteeSection 92: Order confirming reductionSection 98: Limited company may have directors with unlimited liability
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