Case Law Analysis
|National Company Law Appellate Tribunal
IBC Section 154: Estate vests in trustee immediately; post-bankruptcy withdrawals unauthorized even if claimed as excluded assets : NCLAT
The NCLAT held that under Section 154 IBC a bankrupt's estate vests in the trustee immediately, making post-bankruptcy withdrawals unauthorized even if claimed as excluded assets exceeding statutory limits, and affecting personal guarantors and debtors.