Regulations 32. ²⁵[Sale of Assets, etc.—

The liquidator may sell-

• (a) an asset on a standalone basis;
• (b) the assets in a slump sale;
• (c) a set of assets collectively;
• (d) the assets in parcels;
• (e) the corporate debtor as a going concern; or
• (f) the business(s) of the corporate debtor as a going concern:

Provided that where an asset is subject to security interest, it shall not be sold under any of the clauses (a) to (f) unless the security interest therein has been relinquished to the liquidation estate.]

²⁵ Substituted by Notification No. IBBI/2018-19/GN/REG037, dated 22nd October, 2018 (w.e.f. 22-10-2018). Regulation 32, prior to substitution it stood as under:

“[32. Manner of sale.
The liquidator may

• (a) sell an asset on a standalone basis; or
• (b) sell
• (i) the assets in a slump sale,
• (ii) a set of assets collectively, or
• ²⁵[(iii) the assets in parcels; or;]
• ²⁵[(c) sell the corporate debtor as a going concern.]”