2.5.38:Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
38. Distribution of unsold assets.
(1) The liquidator may, with the permission of the Adjudicating Authority, distribute amongst the stakeholders, an asset that cannot be readily or advantageously sold 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.