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        Rule 10 - Assets of third parties, etc.

        Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

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        Third-party assets exclusion prevents moratorium applying; administrator may control them only per government notification under insolvency rules. The rule clarifies that the moratorium and related stay provisions do not apply to third-party assets in the custody or possession of a financial service provider, including funds, securities and other trust assets. The Administrator may take control and custody of such third-party assets only for the purpose of dealing with them in the manner notified by the Central Government.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                    Provisions expressly mentioned in the judgment/order text.

                        Third-party assets exclusion prevents moratorium applying; administrator may control them only per government notification under insolvency rules.

                        The rule clarifies that the moratorium and related stay provisions do not apply to third-party assets in the custody or possession of a financial service provider, including funds, securities and other trust assets. The Administrator may take control and custody of such third-party assets only for the purpose of dealing with them in the manner notified by the Central Government.


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