Section 32 in Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
32. [ Sale of Assets, etc. [Substituted by Notification No. IBBI/2018-19/GN/REG037, dated 22.10.2018 (w.e.f. 15.12.2016).]
- The liquidator may sell -(a)an asset on a standalone basis;(b)the assets in a slump sale;(c)a set of assets collectively;(d)the assets in parcels;(e)the corporate debtor as a going concern; or(f)the business(s) of the corporate debtor as a going concern:Provided that where an asset is subject to security interest, it shall not be sold under any of the clauses (a) to (f) unless the security interest therein has been relinquished to the liquidation estate.]
