89. Offences by directors or officers of the licensed bank

fails to disclose to the liquidator, to the best of his knowledge and belief, information relating to all the movable and immovable property of such licensed bank, including how, to whom and for what consideration such property or part thereof have been disposed of, except such property or part as has been disposed of in the ordinary course of the business of the licensed bank;

fails to deliver up to the liquidator, or as the liquidator directs –

all the movable and immovable property of such licensed bank in the custody of such director or officer, or under the control of such director or officer; or

all the books, records, registers and documents belonging to such licensed bank, in the custody of such director or officer, or under the control of such director or officer;

within twelve months immediately preceding the commencement of the winding up of such licensed bank, or at any time thereafter –

has concealed any part of the property of the licensed bank to the value of rupees ten thousand or more, or has concealed any debt due to, or due from, such licensed bank;

has fraudulently removed any part of the property of such licensed bank to the value of rupees ten thousand or more;

has concealed, destroyed, mutilated or falsified, or has been privy to the concealment, destruction, mutilation or falsification of, any book, register, record or document affecting or relating to the property or affairs of such licensed bank;

has made or has been privy to the making of any false entry in any book, register, record, or document affecting or relating to the property or affairs of such licensed bank;

has fraudulently parted with, altered, or made any omission in, or has been privy to fraudulent parting with, altering or making any omission in, any book, register, record or document affecting or relating to the property or affairs of such licensed bank;

by any false representation or other fraud, has obtained any property for, or on behalf of, the licensed bank on credit which such licensed bank has not subsequently paid for;

has obtained on credit, for or on behalf of such licensed bank, under the false pretense that the licensed bank is carrying on its business, any property which such licensed bank has not subsequently paid for; or

has pawned, pledged or disposed of any property of such licensed bank which has been obtained on credit and has not been paid for, unless such pawning, pledging or disposing was in the ordinary course of the business of the licensed bank;

makes any material omission in any statement relating to the affairs of such licensed bank;

knowing or having reasons to believe that a false debt has been proved by any person, fails for a period of one month to inform the liquidator of such fact;

prevents the production of any book, register, record or document affecting or relating to the property or affairs of such licensed bank;

within twelve months immediately preceding the commencement of the winding up, or at any time thereafter, has attempted to account for any part of the property of such licensed bank by fictitious losses or expenses; or

within twelve months immediately preceding the commencement of the winding up or at any time thereafter, has been found to have made any false representation or committed or involved in the commission of any other fraudulent activity for the purpose of obtaining the consent of the creditors of the licensed bank or any one of them to an agreement with reference to the affairs of the licensed bank or to the winding up, commits an offence under this Act.