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Section 172 - Insolvency and Bankruptcy Code Act, 2016
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.
Related Sections
- Section 179: Adjudicating authority for individuals and partnership firms
- Section 56: Time period for completion of fast track corporate insolvency resolution process
- Section 146: Resignation by bankruptcy trustee
- Section 110: Rights of secured creditors in relation to repayment plan
- Section 95: Application by creditor to initiate insolvency resolution process
Related Acts
- Farm Laws Repeal Act, 2021
- Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Act, 2018
- Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
- Transgender Persons (Protection of Rights) Act, 2019
- National Dental Commission Act, 2023
* Only for reference.