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of <h1>Bankruptcy Trustee Powers Under Section 153: Business Continuation, Legal Actions, Property Sales, Mortgages, and Dispute Resolution.</h1> Section 153 of the Insolvency and Bankruptcy Code, 2016, outlines the powers of a bankruptcy trustee with the approval of the committee of creditors. The trustee may continue the bankrupt's business for winding up, engage in legal proceedings related to the bankrupt's estate, and accept future payments for property sales. The trustee can also mortgage property to pay debts, exercise rights within the estate, and refer disputes to arbitration. Compromises with creditors or regarding claims related to the estate are permitted. Additionally, the trustee can appoint the bankrupt to manage or assist in managing the estate for creditors' benefit.
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