If a liquidator is unable to sell, assign or transfer an asset of the corporate debtor due to its peculiar nature or special circumstances then the valid and legal option to dispose that asset is:
Regulation 38, Liquidation Regulations, 2016 permits the liquidator to distribute the asset ‘amongst the stakeholders’ after approval of the CoC and the NCLT. A stakeholder can include any of the three entities mentioned in option (a), (b), and (c) above.