Vacancy in office of bankruptcy trustee
Section 147 of the Insolvency and Bankruptcy Code, 2016 deals with vacancy in office of bankruptcy trustee. If a vacancy occurs in the office of the bankruptcy trustee for any reason other than his replacement or resignation, the vacancy shall be filled in accordance with the provisions of this section. The Act was enacted on 28 May 2016.
(1) If a vacancy occurs in the office of the bankruptcy trustee for any reason other than his replacement or resignation, the vacancy shall be filled in accordance with the provisions of this section.
(2) In the event of the occurrence of vacancy referred to in sub-section (1), the Adjudicating Authority shall direct the Board for replacement of a bankruptcy trustee.
(3) The Board shall, within ten days of the direction of the Adjudicating Authority under sub-section (2), recommend a 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 earlier 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 vacated the office--
(a) to share all information with the new bankruptcy trustee in respect of the bankruptcy;
(b) to co-operate with the new bankruptcy trustee in such matters as may be required.
(7) The bankruptcy trustee appointed under sub-section (4) shall give a notice of his appointment to the committee of creditors and the bankrupt within seven days of his appointment.
(8) The earlier bankruptcy trustee replaced under this section shall be released in accordance with the provisions of section 148:
Provided that this section shall not apply if the vacancy has occurred due to temporary illness or temporary leave of the bankruptcy trustee.
Section 147, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
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Questions about Section 147
What does Section 147 of the Insolvency and Bankruptcy Code deal with?
Section 147 of the Insolvency and Bankruptcy Code is headed "Vacancy in office of bankruptcy trustee". If a vacancy occurs in the office of the bankruptcy trustee for any reason other than his replacement or resignation, the vacancy shall be filled in accordance with the provisions of this section.
How do I find court cases under Section 147 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 147, section 147 Insolvency and Bankruptcy Code, section 147 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 147 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 147 of the Insolvency and Bankruptcy Code enacted?
Section 147 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 147, 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 17 Oct 2026. This page is not a substitute for legal advice.