The Insolvency and Bankruptcy Code

Functions of bankruptcy trustee

Duties of bankrupt towards bankruptcy trustee

Rights of bankruptcy trustee

General powers of bankruptcy trustee

Approval of creditors for certain acts

Vesting of estate of bankrupt in bankruptcy trustee

Estate of bankrupt

Delivery of property and documents to bankruptcy trustee

Acquisition of control by bankruptcy trustee

Restrictions on disposition of property

After-acquired property of bankrupt

Onerous property of bankrupt

Notice to disclaim onerous property

Disclaimer of leaseholds

Challenge against disclaimed property

Undervalued transactions

Preference transactions

Effect of order

Extortionate credit transactions

Obligations under contracts

Continuance of proceedings on death of bankrupt

Administration of estate of deceased bankrupt

Proof of debt

Proof of debt by secured creditors

Mutual credit and set-off

Distribution of interim dividend

Distribution of property

Final dividend

Claims of creditors

Priority of payment of debts


CHAPTER V ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT


(1) The estate of the bankrupt shall
vest in the bankruptcy trustee immediately from the date of his appointment.

(2) The vesting under sub-section (1) shall take effect without any conveyance, assignment or
transfer.



LAWGIST

# 154 Vesting of estate of bankrupt in bankruptcy trustee