Section 149: Functions of bankruptcy trustee

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The Insolvency and Bankruptcy Code, 2016

PART III
Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms

CHAPTER V
Administration and Distribution of The Estate of the Bankrupt

Section 149: Functions of bankruptcy trustee:

*149. The bankruptcy trustee shall perform the following functions in accordance with the provisions of this Chapter—

(a) investigate the affairs of the bankrupt;

(b) realise the estate of the bankrupt; and

(c) distribute the estate of the bankrupt.


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Notifications & Circulars

*Only in so far as they relate to personal guarantors to corporate debtors, shall come into force w.e.f. 01.12.2019.

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