Government specifies the minimum amount of default
Government specifies the minimum amount of default for the matters relating to the pre-packaged insolvency resolution process of corporate debtor.
S.O. 1543(E).—In exercise of the powers conferred by the second proviso to section 4 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), as amended by the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (3 of 2021), the Central Government hereby specifies ten lakh rupees as the minimum amount of default for the matters relating to the pre-packaged insolvency resolution process of corporate debtor under Chapter III-A of the Code.
Click here to read : Insolvency and Bankruptcy Board of India (IBBI) (Pre-packaged Insolvency Resolution Process) Regulations, 2021.
