Section 128(1) in Insolvency And Bankruptcy Code, 2016
(1)On the passing of the bankruptcy order under section 126,-(a)the estate of the bankrupt shall vest in the bankruptcy trustee as provided in section 154;(b)the estate of the bankrupt shall be divided among his creditors;(c)subject to provisions of sub-section (2), a creditor of the bankrupt indebted in respect of any debt claimed as a bankruptcy debt shall not-(i)initiate any action against the property of the bankrupt in respect of such debt; or(ii)commence any suit or other legal proceedings except with the leave of the Adjudicating Authority and on such terms as the Adjudicating Authority may impose.
