Mera Samvidhaan All of Insolvency and Bankruptcy Code, 2016

Part III · Chapter V · Administration and Distribution of the Estate of the Bankrupt

152General powers of bankruptcy trustee.

Section 152 · Part III · Chapter V · page 114 of the Act

The bankruptcy trustee may while discharging his functions under this Chapter,—

(a) sell any part of the estate of the bankrupt;

(b) give receipts for any money received by him;

(c) prove, rank, claim and draw a dividend in respect of such debts due to the bankrupt as are comprised in his estate;

(d) where any property comprised in the estate of the bankrupt is held by any person by way of pledge or hypothecation, exercise the right of redemption in respect of any such property subject to the relevant contract by giving notice to the said person;

(e) where any part of the estate of the bankrupt consists of securities in a company or any other property which is transferable in the books of a person, exercise the right to transfer the property to the same extent as the bankrupt might have exercised it if he had not become bankrupt; and

(f) deal with any property comprised in the estate of the bankrupt to which the bankrupt is beneficially entitled in the same manner as he might have dealt with it.

Section 152 of The Insolvency and Bankruptcy Code, 2016 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.