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Insolvency and Bankruptcy Code, 2016

Section 154: Vesting of estate of bankrupt in bankruptcy trustee

Chapter V — Administration and Distribution of the Estate of the Bankrupt

(1) The estate of the bankrupt shall vest in the bankruptcy trustee immediately from the date of his appointment.

(2) The vesting under sub-section (1) shall take effect without any conveyance, assignment or transfer.

Source: official text of the Insolvency and Bankruptcy Code, 2016.