Centralized Electronic Listing and Auction Platform for the Sale of Assets under Liquidation Process

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... tities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on the website of the IBBI) Dear Madam/Sir, Sub: Centralized Electronic Listing and Auction Platform for the Sale of Assets under Liquidation Process 1. Regulation 33 (1) of the IBBI (Liquidation Process) Regulations, 2016 (Liquidation Regulations) provides that, "The liquidator shall ordinarily .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... all assets under liquidation of CD are continuously available to the public provides an effective solution to these problems. 2. To address the above challenges, IBBI has collaborated with the Indian Banks' Association (IBA) to facilitate the auction of assets through the eBKray platform which is presently owned and managed by PSB Alliance Private Limited (a consortium of 12 public sector banks) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the Asset Memorandum, including comprehensive details such as the status of the attachment or lien, geographical coordinates, and the likely date of auction. For GCS, the entire CD would be listed on this platform. 5. Initially, the platform is envisioned to be deployed on a pilot mode and it will be improved based on the experiences of usage. The full-fledged roll-out of the platform will be no .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X