Law · Insolvency and Bankruptcy Code
Once a bankruptcy order is passed under the Insolvency and Bankruptcy Code, the bankrupt's estate:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Remains under the debtor's control
- 2Passes to creditors directly
- 3Vests in the bankruptcy trustee for distribution✓
- 4Is frozen until liquidation
Correct answer
Vests in the bankruptcy trustee for distribution
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