eCourtsIndia
IndiaCode Laws
Section150
The Insolvency and Bankruptcy Code, 2016

Duties of bankrupt towards bankruptcy trustee

In force Act 31 of 2016 As on 20 Oct 2026

Act 31 of 2016 Ministry Corporate Affairs Enacted 28 May 2016 Cited by 1 provision Instruments 1

Section 150 of the Insolvency and Bankruptcy Code, 2016 deals with duties of bankrupt towards bankruptcy trustee. The bankrupt shall assist the bankruptcy trustee in carrying out his functions under this Chapter by— (a) giving to the bankruptcy trustee the information of his affairs; The Act was enacted on 28 May 2016.

(1) The bankrupt shall assist the bankruptcy trustee in carrying out his functions under this Chapter by—

(a) giving to the bankruptcy trustee the information of his affairs;

(b) attending on the bankruptcy trustee at such times as may be required;

(c) giving notice to the bankruptcy trustee of any of the following events which have occurred after the bankruptcy commencement date,—

(i) acquisition of any property by the bankrupt;

(ii) devolution of any property upon the bankrupt;

(iii) increase in the income of the bankrupt;

(d) doing all other things as may be prescribed.

(2) The bankrupt shall give notice of the increase in income or acquisition or devolution of property under clause (c) of sub-section (1) within seven days of such increase, acquisition or devolution.

(3) The bankrupt shall continue to discharge the duties under sub-section (1) other than the duties under clause (c) even after the discharge under section 138.

Section 150, 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.

This section refers to

  1. s. 138 Discharge order

Referred to by 1

  1. s. 239 Power to make rules

Made under this section, and citing it

1 instrument names this provision in its title or its text without being made under it.

All subordinate legislation

Questions about Section 150

What does Section 150 of the Insolvency and Bankruptcy Code deal with?

Section 150 of the Insolvency and Bankruptcy Code is headed "Duties of bankrupt towards bankruptcy trustee". The bankrupt shall assist the bankruptcy trustee in carrying out his functions under this Chapter by— (a) giving to the bankruptcy trustee the information of his affairs;

How do I find court cases under Section 150 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 150, section 150 Insolvency and Bankruptcy Code, section 150 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 150 of the Insolvency and Bankruptcy Code, and has it changed?

Its own text turns on section 138 (Discharge order), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it. One instrument names it without being made under it, most recently Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 (2019).

When was Section 150 of the Insolvency and Bankruptcy Code enacted?

Section 150 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 150, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.

Other sections of this Act

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.