The Insolvency and Bankruptcy Code

Application for bankruptcy

Application by debtor

Application by creditor

Effect of application

Appointment of insolvency professional as bankruptcy trustee

Bankruptcy order

Validity of bankruptcy order

Effect of bankruptcy order

Statement of financial position

Public notice inviting claims from creditors

Registration of claims

Preparation of list of creditors

Summoning of meeting of creditors

Conduct of meeting of creditors

Voting rights of creditors

Administration and distribution of estate of bankruptcy

Completion of administration

Discharge order

Effect of discharge

Disqualification of bankrupt

Restrictions on bankrupt

Modification or recall of bankruptcy order

Standard of conduct

Fees of bankruptcy trustee

Replacement of bankruptcy trustee

Resignation by bankruptcy trustee

Vacancy in office of bankruptcy trustee

Release of bankruptcy trustee


CHAPTER IV BANKRUPTCY ORDER FOR INDIVIDUALS AND PARTNERSHIP FIRMS


The discharge order under sub-section (2) of section 138 shall release the
bankrupt from all the bankruptcy debt:

Provided that discharge shall not— 

(a) affect the functions of the bankruptcy trustee; or

(b) affect the operation of the provisions of Chapters IV and V of Part III; or

(c) release the bankrupt from any debt incurred by means of fraud or breach of trust to which he
was a party; or

(d) discharge the bankrupt from any excluded debt.


LAWGIST

# 139 Effect of discharge