IBC · V — ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT

Section 150. Duties of bankrupt towards bankruptcy trustee

In force · As amended up to 2026-08

150. Duties of bankrupt towards bankruptcy trustee .—(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.

Source: India Code