Section 156 of Insolvency and Bankruptcy Code, 2016 (IBC): Delivery of property and documents to 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 156: Delivery of property and documents to bankruptcy trustee.

*156. The bankrupt, his banker or agent or any other person having possession of any property, books, papers or other records which bankruptcy trustee is required to take possession for the purposes of the bankruptcy process shall deliver the said property and documents to the bankruptcy trustee.


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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