Quick Navigation
Section 157 - Insolvency and Bankruptcy Code Act, 2016
157. Acquisition of control by bankruptcy trustee.-
(1) The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control.
(2) Where any part of the estate of the bankrupt consists of things in actionable claims, they shall be deemed to have been assigned to the bankruptcy trustee without any notice of the assignment.
Related Sections
Related Acts
- Juvenile Justice (Care and Protection of Children) Act, 2015
- Dadra and Nagar Haveli and Daman and Diu (Merger of Union Territories) Act, 2019
- Taxation Laws (Amendment) Act, 2016
- Provisional Collection of Taxes Act, 2023
- Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016
* Only for reference.