Section 520, The Companies Act, 2009

(1) Every director, employee or shareholder of a companywho, with intent to defraud or deceive a person- (a) destroys, parts with, mutilates, alters or falsifies, or is a party to the destruction, mutilation, alteration, or falsification of any register, accounting records, book, paper, or other document, belonging or relating to the (b) makes or is party to the making of, false entry in any register, accounting records, book, 376 377 Costs in action by limited enforce orders. False Every director, employee, etc. to be liable. Falsification of records. paper, or other document belonging or relating to the company,commits and offence, and is liable on conviction to a fine not exceeding Le 5,000,000 or imprisonment for a term not exceeding 2 years or to both the fine and imprisonment. (2) Every person who, in relation to a mechanical, electronic, or other device used in connection with the keeping or preparation of any register, accounting records, index, book, paper, or other document for the purposes of a company or this Act- (a) records or stores in the device, or makes available to a person from the device, matter that he knows to be false or misleading in a material particular; or (b) with intent to falsify or render misleading such register, accounting records, index, book, paper or other document destroys, removes, or falsifies matter recorded or stored in the device, or fails or omits to record or store any matter in the device. is guilty of an an offence, and is liable on conviction to a fine not exceeding Le8,000,000 or imprisonment for a term not exceeding 2 years or to both the fine and imprisonment.