Section 456, The Companies Act, 2009

(1) Where a company is ordered to be wound up by acourt or passes a resolution for voluntary winding up, a person is deemed to have committed an offence if he, being a director, manager or other officer of the company with intent to defraud- (a) creditors of the company, has made or causes to be made any gift or transfer of or charge on or has caused or connived at the levying of any execution; (b) conceals or removes any part of the company’s property since or within 2 months before the date of any unsatisfied judgement or order for the payment of money obtained against the company; or (c) has by false pretences or by means of any other fraud induced any person to give credit to the company. (2) Any person convicted under subsection (1) shall be liable to a term of imprisonment not exceeding 2 years. 326 327 falsification of books. Fraud by officers of which have gone into liquidation.