Section 154: Vesting of estate of bankrupt in bankruptcy trustee

Save(0)

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 154: Vesting of estate of bankrupt in bankruptcy trustee:

*154. (1) The estate of the bankrupt shall vest in the bankruptcy trustee immediately from the date of his appointment.

(2) The vesting under sub-section (1) shall take effect without any conveyance, assignment or transfer.


————————

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.

Leave a Reply

Your email address will not be published.

WhatsApp Bulletin-26