IBBI issues Notification under Section 4 of Insolvency and Bankruptcy Code, 2016

Mar 27, 2020 | by Avantis RegTech Legal Research Team


Secretarial Compliance

The Central Government on March 24, 2020, hereby specifies that the insolvency resolution and liquidation for corporate persons under the Insolvency and Bankruptcy Code, 2016, shall apply to matters where the minimum amount of the default is one crore rupees. Further provided that the Central Government may, by notification, specify the minimum amount of default of higher value which shall not be more than one crore rupees.

[Notification No. S.O. 1205(E)]

 


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