Sale of corporate assets outside ordinary course: committee approval required and purchaser receives marketable title for better realisation.

Resolution professional may sell unencumbered assets outside the ordinary course of business for better realisation of value, subject to an aggregate book value cap of ten percent of total admitted claims; such sales require committee approval by sixty-six per cent of voting share and confer a free and marketable title on a bona fide purchaser despite constitutional or similar agreements.

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