Section 149 of Insolvency and Bankruptcy Code, 2016 (IBC): Functions of bankruptcy trustee

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.


Reference

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

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