Faudulently obtaining credit facilities from any bank or financial institution/inducing persons to invest money can make any one liable for punishment

This section has been notified w.e.f. 12/9/2013. As per provisions of section 36 any person who, either knowingly or recklessly makes any statement, promise or forecast which is false, deceptive or misleading, or deliberately conceals any material facts, to induce another person to enter into, or to offer to enter any agreement for, or with a view to obtaining credit facilities from any bank or financial institution or acquiring, disposing of, subscribing for, or underwriting securities shall be liable for punishment u/s 447 which is imprisonment and fine . Detailed section can be read as under:

36 . Any person who, either knowingly or recklessly makes any statement, promise or forecast which is false, deceptive or misleading, or deliberately conceals any material facts, to induce another person to enter into, or to offer to enter into,—

(a)		any agreement for, or with a view to, acquiring, disposing of, subscribing for, or underwriting securities; or
(b)		any agreement, the purpose or the pretended purpose of which is to secure a profit to any of the parties from the yield of securities or by reference to fluctuations in the value of securities; or
(c)		any agreement for, or with a view to obtaining credit facilities from any bank or financial institution;

shall be liable for action under section 447.

Which can be read as under though still not operational

Punishment for fraud.

Without prejudice to any liability including repayment of any debt under this Act or any other law for the time being in force, any person who is found to be guilty of fraud, shall be punishable with imprisonment for a term which shall not be less than six months but which may extend to ten years and shall also be liable to fine which shall not be less than the amount involved in the fraud, but which may extend to three times the amount involved in the fraud:

Provided that where the fraud in question involves public interest, the term of imprisonment shall not be less than three years.

Explanation.—For the purposes of this section—

(i)		"fraud" in relation to affairs of a company or any body corporate, includes any act, omission, concealment of any fact or abuse of position committed by any person or any other person with the connivance in any manner, with intent to deceive, to gain undue advantage from, or to injure the interests of, the company or its shareholders or its creditors or any other person, whether or not there is any wrongful gain or wrongful loss;
(ii)		"wrongful gain" means the gain by unlawful means of property to which the person gaining is not legally entitled;
(iii)		"wrongful loss" means the loss by unlawful means of property to which the person losing is legally entitled.