Companies Act, 2013

Section - 337 - Penalty for frauds by officers

Penalty for frauds by officers.

337. If any person, being at the time of the commission of the alleged offence an officer of a company which is subsequently ordered to be wound up by the Tribunal [under this Act],-

(a)	-	has, by false pretences or by means of any other fraud, induced any person to give credit to the company;
(b)	-	with intent to defraud creditors of the company or any other person, has made or caused to be made any gift or transfer of, or charge on, or has caused or connived at the levying of any execution against, the property of the company; or
(c)	-	with intent to defraud creditors of the company, has concealed or removed any part of the property of the company since the date of any unsatisfied judgment or order for payment of money obtained against the company or within two months before that date,