An interim resolution professional appointed under the provisions of the Insolvency and Bankruptcy Code, 2016 shall take control and custody of any asset over which the corporate debtor has ownership rights as recorded i

According to Section 18 of the Insolvency and Bankruptcy Code the following assets shall not include, namely: - (a) assets owned by a third party in possession of the corporate debtor held under trust or under contractual arrangements including bailment; (b) assets of any Indian or foreign subsidiary of the corporate debtor; and (c) such other assets as may be notified by the Central Government in consultation with any financial sector regulator.