https://www.taxtmi.com/acts?id=31167 A bankruptcy trustee who fraudulently misapplies, retains or accounts for estate money or property, or wilfully breaches duties under section 149 causing loss to the estate, is punishable by imprisonment up to three years, or a fine not less than three times the loss caused or likely caused, or both; if loss or gain is not quantifiable, the fine is capped. A trustee is not liable when he seizes or disposes of property not comprised in the estate and reasonably believes at the time he is entitled to do so. en-us Tue, 02 Jan 2018 17:09:36 +0530 Fri, 06 Dec 2019 12:45:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31167 A bankruptcy trustee who fraudulently misapplies, retains or accounts for estate money or property, or wilfully breaches duties under section 149 causing loss to the estate, is punishable by imprisonment up to three years, or a fine not less than three times the loss caused or likely caused, or both; if loss or gain is not quantifiable, the fine is capped. A trustee is not liable when he seizes or disposes of property not comprised in the estate and reasonably believes at the time he is entitled to do so. Act-Rules IBC Tue, 02 Jan 2018 17:09:36 +0530 https://www.taxtmi.com/acts?id=31167