Section 27(2) in Insolvency And Bankruptcy Board Of India (Bankruptcy Process For Personal Guarantors To Corporate Debtors) Regulations, 2019
(2)The bankruptcy trustee may sell the assets by private sale, in the manner specified in Part B of Schedule II if-(a)the asset is perishable in nature;(b)the value of the asset is likely to deteriorate significantly if the sale is delayed; or(c)the selling price of the asset is higher than the reserve price of a failed auction.
