Section 172. Proof of debt by secured creditors

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Act: Insolvency and Bankruptcy Code Act, 2016
Section number: 172

Section reader

172. Proof of debt by secured creditors.-

(1) Where a secured creditor realises his security, he may produce proof of the balance due to him.

(2) Where a secured creditor surrenders his security to the bankruptcy trustee for the general benefit of the creditors, he may produce proof of his whole claim.