If a corporate debtor provides information in the application made under section 10 which is false in material particulars, knowing it to be false, or omits any material fact, knowing it to be material, every person who is an officer of the corporate debtor at the time of making of such application shall be punishable with imprisonment for a term which shall not be less than three years, but which may extend to five years, or with fine which shall not be less than one lakh rupees, but which may extend to one crore rupees, or with both.