Section 37(8) in Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
(8)[ A secured creditor shall not sell or transfer an asset, which is subject to security interest, to any person, who is not eligible under the Code to submit a resolution plan for insolvency resolution of the corporate debtor.] [Inserted by Notification No. IBBI/2019-20/GN/REG053, dated 6.01.2020 (w.e.f. 15.12.2016).]
