Resignation by bankruptcy trustee
Section 146 of the Insolvency and Bankruptcy Code, 2016 deals with resignation by bankruptcy trustee. A bankruptcy trustee may resign if— (a) he intends to cease practising as an insolvency professional; The Act was enacted on 28 May 2016.
(1) A bankruptcy trustee may resign if—
(a) he intends to cease practising as an insolvency professional; or
(b) there is conflict of interest or change of personal circumstances which preclude the further discharge of his duties as a bankruptcy trustee.
(2) The Adjudicating Authority shall, within seven days of the acceptance of the resignation of the bankruptcy trustee, direct the Board for his replacement.
(3) The Board shall, within ten days of the direction of the Adjudicating Authority under sub-section (2) recommend another bankruptcy trustee as a replacement.
(4) The Adjudicating Authority shall appoint the bankruptcy trustee recommended by the Board under sub-section (3) within fourteen days of receiving the recommendation.
(5) The replaced bankruptcy trustee shall deliver possession of the estate of the bankrupt to the bankruptcy trustee appointed under sub-section (4), on the date of his appointment.
(6) The Adjudicating Authority may give directions to the bankruptcy trustee who has resigned—
(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.
(7) The bankruptcy trustee appointed under this section shall give a notice of his appointment to the committee of creditors and the bankrupt within seven days of his appointment.
(8) The bankruptcy trustee replaced under this section shall be released in accordance with the provisions of section 148.
Section 146, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
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Questions about Section 146
What does Section 146 of the Insolvency and Bankruptcy Code deal with?
Section 146 of the Insolvency and Bankruptcy Code is headed "Resignation by bankruptcy trustee". A bankruptcy trustee may resign if— (a) he intends to cease practising as an insolvency professional;
How do I find court cases under Section 146 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 146, section 146 Insolvency and Bankruptcy Code, section 146 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 146 of the Insolvency and Bankruptcy Code, and has it changed?
Its own text turns on 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 146 of the Insolvency and Bankruptcy Code enacted?
Section 146 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 146, 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 19 Oct 2026. This page is not a substitute for legal advice.