Replacement of bankruptcy trustee
Section 145 of the Insolvency and Bankruptcy Code, 2016 deals with replacement of bankruptcy trustee. Where Committee of creditors is of the opinion that at any time during the bankruptcy process, a bankruptcy trustee appointed under section 125 is required to be replaced, it may replace him with another bankruptcy trustee in the manner provided under this section. The Act was enacted on 28 May 2016.
(1) Where Committee of creditors is of the opinion that at any time during the bankruptcy process, a bankruptcy trustee appointed under section 125 is required to be replaced, it may replace him with another bankruptcy trustee in the manner provided under this section.
(2) The Committee of creditors may, at a meeting, by a vote of seventy-five per cent. of voting share, propose to replace the bankruptcy trustee appointed under section 125 with another bankruptcy trustee.
(3) The Committee of creditors may apply to the Adjudicating Authority for the replacement of the bankruptcy trustee.
(4) The Adjudicating Authority shall within seven days of the receipt of the application under subsection (3) direct the Board to recommend for replacement of bankruptcy trustee.
(5) The Board shall, within ten days of the direction of the Adjudicating Authority under sub-section (4), recommend a bankruptcy trustee for replacement against whom no disciplinary proceedings are pending.
(6) The Adjudicating Authority shall, by an order, appoint the bankruptcy trustee as recommended by the Board under sub-section (5) within fourteen days of receiving such recommendation.
(7) The earlier bankruptcy trustee shall deliver possession of the estate of the bankrupt to the bankruptcy trustee appointed under sub-section (6), on the date of his appointment.
(8) The Adjudicating Authority may give directions to the earlier bankruptcy trustee--
(a) to share all information with the new bankruptcy trustee in respect of the bankruptcy process; and
(b) to co-operate with the new bankruptcy trustee in such matters as may be required.
(9) The earlier bankruptcy trustee replaced under this section shall be released in accordance with the provisions of section 148.
(10) The bankruptcy trustee appointed under this section shall give a notice of his appointment to the bankrupt within seven days of his appointment.
Section 145, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
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Questions about Section 145
What does Section 145 of the Insolvency and Bankruptcy Code deal with?
Section 145 of the Insolvency and Bankruptcy Code is headed "Replacement of bankruptcy trustee". Where Committee of creditors is of the opinion that at any time during the bankruptcy process, a bankruptcy trustee appointed under section 125 is required to be replaced, it may replace him with another bankruptcy trustee in the manner provided under this section.
How do I find court cases under Section 145 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 145, section 145 Insolvency and Bankruptcy Code, section 145 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 145 of the Insolvency and Bankruptcy Code, and has it changed?
Its own text turns on section 125 (Appointment of insolvency professional as bankruptcy trustee), section 148 (Release of bankruptcy trustee), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 145 of the Insolvency and Bankruptcy Code enacted?
Section 145 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 145, 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 20 Oct 2026. This page is not a substitute for legal advice.