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MODE OF SALE

SCHEDULE I - Regulation - Schedules - Insolvency and Bankruptcy - SCHEDULE I - SCHEDULE I (Under Regulation 33 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016) 1. Auction (1) Where an asset is to be sold throug .....

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tisements; (b) preparing information sheets for the asset; (c) preparing a notice of sale; and (d) liaising with agents. (3) The liquidator shall prepare terms and conditions of sale, including reserve price, earnest money deposit as well as pre-bid .....

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may reduce the reserve price up to seventy-five per cent of such value to conduct subsequent auctions. (5) The liquidator shall make a public announcement of an auction in the manner specified in Regulation 12(3); Provided that the liquidator may ap .....

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interested buyers. (7) The liquidator shall sell the assets through an electronic auction on an online portal, if any, designated by the Board, where the interested buyers can register, bid and receive confirmation of the acceptance of their bid onl .....

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sion of the Adjudicating Authority. The liquidator may engage the services of qualified professional auctioneers specializing in auctioning such assets for this purpose. (9) An auction shall be transparent, and the highest bid at any given point shal .....

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riting, to the Adjudicating Authority for its permission to conduct an auction in such manner. (11) If required, the liquidator may conduct multiple rounds of auctions to maximize the realization from the sale of the assets, and to promote the best i .....

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