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Insolvency and Bankruptcy Code, 2016

Section 185: Punishment for contravention of provisions

Chapter VII — Offences and Penalties

If an insolvency professional deliberately contravenes the provisions of this Part, he shall be punishable with imprisonment for a term which may extend to six months, or with fine, which shall not be less than one lakh rupees, but may extend to five lakhs rupees, or with both.

Source: official text of the Insolvency and Bankruptcy Code, 2016.