NYAYA SIGNAL
Central · 2016 · Section 172
Section 172 — Proof of debt by secured creditors.
The Insolvency and Bankruptcy Code, 2016.
(1) Where a secured creditor realises his security, he may produce proof of the balance due to him.
(2) Where a secured creditor surrenders his security to the bankruptcy trustee for the general benefit of the creditors, he may produce proof of his whole claim.
(2) Where a secured creditor surrenders his security to the bankruptcy trustee for the general benefit of the creditors, he may produce proof of his whole claim.