Section 402 — Penalty for falsification of books

If any director, manager,
officer, auditor or contributory of any company being wound up destroys, mutilates,
alters or falsifies or fraudulently secrets any books, papers or securities, or makes
or is privy to the making of any false or fraudulent entry in any register, books or
paper belonging to the company with intent to defraud or deceive any person, he
shall be liable to imprisonment for a term which may extend to three years, or with
fine which may extend to one million rupees, or with both.