Companies Act, 1956

Section - 539 - Penalty for falsification of books

Penalty for falsification of books.

539. If with intent to defraud or deceive any person, any officer or contributory of a company which is being wound up—

         (a)  destroys, mutilates, alters, falsifies or secrets, or is privy to the destruction, mutilation, alteration, falsification or secreting of, any books, papers or securities; or

         (b)  makes, or is privy to the making of, any false or fraudulent entry in any register, book of account or document belonging to the company;

he shall be punishable with imprisonment for a term which may extend to seven years, and shall also be liable to fine.

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