Acquisition of control by bankruptcy trustee
Section 157 of the Insolvency and Bankruptcy Code, 2016 deals with acquisition of control by bankruptcy trustee. The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control. The Act was enacted on 28 May 2016.
(1) The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control.
(2) Where any part of the estate of the bankrupt consists of things in actionable claims, they shall be deemed to have been assigned to the bankruptcy trustee without any notice of the assignment.
Section 157, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Questions about Section 157
What does Section 157 of the Insolvency and Bankruptcy Code deal with?
Section 157 of the Insolvency and Bankruptcy Code is headed "Acquisition of control by bankruptcy trustee". The bankruptcy trustee shall take possession and control of all property, books, papers and other records relating to the estate of the bankrupt or affairs of the bankrupt which belong to him or are in his possession or under his control.
How do I find court cases under Section 157 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 157, section 157 Insolvency and Bankruptcy Code, section 157 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.
When was Section 157 of the Insolvency and Bankruptcy Code enacted?
Section 157 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 157, 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
- 240. Power to make regulations2349 words
- 5. Definitions2326 words
- 3. Definitions1381 words
- 29A. Person not eligible to be resolution applicant1152 words
- 239. Power to make rules963 words
- 196. Powers and functions of Board942 words
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 16 Oct 2026. This page is not a substitute for legal advice.