Section 170 of IBC : Section 170: Administration Of Estate Of Deceased Bankrupt

Explanation using Example

Imagine John, who had taken out several loans, unfortunately passes away before clearing his debts. At the time of his death, John was undergoing bankruptcy proceedings. In this situation, the provisions of Chapter V of the Insolvency and Bankruptcy Code, 2016, which typically apply to the administration and distribution of a living bankrupt's estate, will now apply to the administration of John's estate, e...

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