The Insolvency and Bankruptcy Code, 2016
PART III Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms
CHAPTER V Administration and Distribution of The Estate of the Bankrupt
Section 149: Functions of bankruptcy trustee:
*149. The bankruptcy trustee shall perform the following functions in accordance with the provisions of this Chapter—
(a) investigate the affairs of the bankrupt;
(b) realise the estate of the bankrupt; and
(c) distribute the estate of the bankrupt.

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.