Mode of sale

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....bankruptcy trustee shall prepare a sale strategy in writing for the sale of the asset and may take help of marketing professionals if it is required, which shall be submitted to the Adjudicating Authority along with the progress report under regulation 10. (3) The marketing strategy may include- (a) releasing advertisements for auction of the asset; (b) preparing information s....

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....ther be reduced with the approval of the committee. (6) The bankruptcy trustee shall provide any assistance, if necessary, for the conduct of due diligence by interested buyers. (7) The bankruptcy trustee shall sell the assets through an electronic auction on an online portal, or on a portal designated by the Board (if any), where the interested buyers can register, bid and receive confirmat....

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.... bankruptcy trustee may conduct multiple rounds of auctions with a view to maximise the realisation from the sale of assets, and to promote the best interests of the creditors. (12) On the close of the auction, the payment schedule shall be communicated to the highest bidder. On payment of the full amount, the bankruptcy trustee shall execute the sale and the asset will be transferred in the ma....