Disqualification of bankrupt
Section 140 of the Insolvency and Bankruptcy Code, 2016 deals with disqualification of bankrupt. The bankrupt shall, from the bankruptcy commencement date, be subject to the disqualifications mentioned in this section. The Act was enacted on 28 May 2016.
(1) The bankrupt shall, from the bankruptcy commencement date, be subject to the disqualifications mentioned in this section.
(2) In addition to any disqualification under any other law for the time being in force, a bankrupt shall be disqualified from—
(a) being appointed or acting as a trustee or representative in respect of any trust, estate or settlement;
(b) being appointed or acting as a public servant;
(c) being elected to any public office where the appointment to such office is by election; and
(d) being elected or sitting or voting as a member of any local authority.
(3) Any disqualification to which a bankrupt may be subject under this section shall cease to have effect, if—
(a) the bankruptcy order against him is modified or recalled under section 142; or
(b) he is discharged under section 138.
Explanation.—For the purposes of this section, the term “public servant” shall have the same meaning as assigned to it in section 21 of the Indian Penal Code (45 of 1860).
Section 140, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 140
What does Section 140 of the Insolvency and Bankruptcy Code deal with?
Section 140 of the Insolvency and Bankruptcy Code is headed "Disqualification of bankrupt". The bankrupt shall, from the bankruptcy commencement date, be subject to the disqualifications mentioned in this section.
How do I find court cases under Section 140 of the Insolvency and Bankruptcy Code?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 140, section 140 Insolvency and Bankruptcy Code, section 140 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 140 of the Insolvency and Bankruptcy Code, and has it changed?
Its own text turns on section 138 (Discharge order), section 142 (Modification or recall of bankruptcy order), Indian Penal Code 21 ("Public servant"), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 140 of the Insolvency and Bankruptcy Code enacted?
Section 140 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 140, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.
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Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.