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of <h1>Insolvency and Bankruptcy Board Regulations 2016: Asset Sale Procedures During Liquidation via Auction or Private Sale</h1> The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, Schedule I outlines procedures for selling assets during liquidation. Assets can be sold via auction or private sale. Auctions require public notice, with timelines for subsequent auctions if initial ones fail. Liquidators must facilitate asset inspection, set reserve prices, and ensure transparency. Prospective bidders must deposit earnest money and confirm eligibility. Auctions can be electronic or physical, with the latter requiring adjudicating authority approval. Private sales involve direct engagement with buyers. Sales are completed upon full payment, with assets transferred as per terms.
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