law: Companies Act, 2013 
  337.
  
    Penalty
  
  for frauds by officers.
  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 or which subsequently passes a resolution for voluntary winding up,—
  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, he shall be punishable with imprisonment for a term which shall not be
  
  less than one year but which may extend to three years and with fine which
  
  shall not be less than one lakh rupees but which may extend to three lakh
  
  rupees.