The sale of assets as a going concern under liquidation is very similar to a Resolution Plan during the insolvency and resolution process.
- By Nitin Jain
The main objective of the Insolvency and Bankruptcy Code 2016 (IBC) is to maximize value for the creditors. Keeping in line with this objective, the regulator through an amendment dated 25.07.2019 added a new regulation 32A for the sale of the corporate debtor as a going concern under liquidation. As per this new liquidation regulation, if the committee of creditors or the liquidator is of the opinion that the company or its business should be sold as a going concern, then the liquidator in order to maximize the value shall first endeavour to sell the whole company or identified asse…
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