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TMI BlogMode of saleX X X X Extracts X X X X X X X X Extracts X X X X ..... do so in the manner specified herein. (2) The 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 f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... failing in spite of reducing the price up to seventy-five percent, the price may further 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 desi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the Adjudicating Authority allowing otherwise regarding the visibility of the bid price. (11) If required, the 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 b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the sale of assets. (4) The completion of sale, and the delivery of the assets shall be as per the terms of sale. ] ********** NOTES:- 1. Inserted Vide Notification No. IBBI/2019-20/GN/REG051 dated 20-11-2019 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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