Section 139: Effect of discharge

The Insolvency and Bankruptcy Code, 2016
PART III Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms
CHAPTER IV Bankruptcy Order for Individuals and Partnership Firms
Section 139: Effect of discharge:
^*139. The discharge order under sub-section (2) of section 138 shall release the bankrupt from all the bankruptcy debt:
Provided that discharge shall not—
(a) affect the functions of the bankruptcy trustee; or
(b) affect the operation of the provisions of Chapters IV and V of Part III; or
(c) release the bankrupt from any debt incurred by means of fraud or breach of trust to which he was a party; or
(d) discharge the bankrupt from any excluded debt.

Notifications & Circulars
*Only in so far as they relate to personal guarantors to corporate debtors, shall come into force w.e.f. 01.12.2019.