Regulation 37A - Assignment of not readily realisable assets - Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

1 [37A. Assignment of not readily realisable assets. (1) A liquidator may assign or transfer a not readily realisable asset through a transparent process, in consultation with the stakeholders consultation committee in accordance with regulation 31A, for a consideration to any person, who is eligible to submit a resolution plan for insolvency resolution of the corporate debtor. Explanation. -For the purposes of this sub-regulation, not readily realisable asset means any asset included in the liquidation estate which could not be sold through available options and includes contingent or disputed assets and assets underlying proceedings for preferential, undervalued, extortionate credit and fraudulent transactions referred to in sections 43 to 51 and section 66 of the Code. ] ************* NOTES:- 1. Inserted vide NOTIFICATION NO. IBBI/2020-21/GN/REG067 dated 13-11-2020