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.
*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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