Regulations 38. Distribution of unsold assets.—

(1) The liquidator may, with the permission of the Adjudicating Authority, distribute amongst the stakeholders, an asset that³³[could not be sold, assigned or transferred] due to its peculiar nature or other special circumstances.

(2) The application seeking permission of the Adjudicating Authority under sub-regulation (1) shall-

• (a) identify the asset;
• (b) provide a value of the asset;
• (c) detail the efforts made to sell the asset, if any; and
• (d) provide reasons for such distribution.

33 Substituted by Notification No. IBBI/2020-21/GN/REG067, dated 13th November, 2020 (w.e.f. 13-11-2020).
Prior to substitution it stood as under:
“cannot be readily or advantageously sold”.