https://www.taxtmi.com/acts?id=31127 Vacancy in the office of a bankruptcy trustee triggers a replacement procedure: the Adjudicating Authority directs the Board to recommend a successor, the Board must promptly recommend a trustee, and the Adjudicating Authority must appoint that recommended trustee within the prescribed period. The outgoing trustee must deliver possession of the bankrupt's estate to the new trustee on appointment, may be directed to share information and cooperate, and the new trustee must notify the committee of creditors and the bankrupt of his appointment. en-us Tue, 02 Jan 2018 16:10:50 +0530 Fri, 06 Dec 2019 12:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31127 Vacancy in the office of a bankruptcy trustee triggers a replacement procedure: the Adjudicating Authority directs the Board to recommend a successor, the Board must promptly recommend a trustee, and the Adjudicating Authority must appoint that recommended trustee within the prescribed period. The outgoing trustee must deliver possession of the bankrupt's estate to the new trustee on appointment, may be directed to share information and cooperate, and the new trustee must notify the committee of creditors and the bankrupt of his appointment. Act-Rules IBC Tue, 02 Jan 2018 16:10:50 +0530 https://www.taxtmi.com/acts?id=31127