The discharge order under sub-section (2) of section 138 shall release the bankrupt from all the bankruptcy debt:
Provided that discharge shall not—
(a) affect the functions of the bankruptcy trustee; or
(b) affect the operation of the provisions of Chapters IV and V of Part III; or
(c) release the bankrupt from any debt incurred by means of fraud or breach of trust to which he was a party; or
(d) discharge the bankrupt from any excluded debt.
Provided that discharge shall not—
(a) affect the functions of the bankruptcy trustee; or
(b) affect the operation of the provisions of Chapters IV and V of Part III; or
(c) release the bankrupt from any debt incurred by means of fraud or breach of trust to which he was a party; or
(d) discharge the bankrupt from any excluded debt.
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Application.Section 3 · Definitions.Section 4 · Application of this Part.Section 5 · Definitions.Section 6 · Persons who may initiate corporate insolvency resolution process.Section 7 · Initiation of corporate insolvency resolution process by financial creditor.Section 8 · Insolvency resolution by operational creditor.India Code, Government of India. Text fetched 09 Oct 2026. Source metadata reports last modification: 2024-07-25. Check the linked official text and subsequent notifications when applying a provision.