TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Resolution Professional Can Sell Unencumbered Assets for Better Value Under Regulation 29, Requires 66% Committee Approval</h1> Regulation 29 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, permits a resolution professional to sell unencumbered assets of a corporate debtor outside the ordinary course of business if deemed necessary for better value realization. The total book value of assets sold during the insolvency process must not exceed 10% of the admitted claims. Such sales require approval from the committee with a 66% voting share. A bona fide purchaser obtains a free and marketable title to the assets, overriding any conflicting terms in the corporate debtor's constitutional documents or agreements.
TaxTMI 
TaxTMI 
