Advocate Sushila
NCLT HOLDS ENHANCED MINIMUM THRESHOLD OF RS 1 CRORE NOT APPLICABLE TO DEFAULTS BEFORE PANDEMIC
Advocate Sushila Ram 16 Dec 2020

NCLT HOLDS ENHANCED MINIMUM THRESHOLD OF RS 1 CRORE NOT APPLICABLE TO DEFAULTS BEFORE PANDEMIC

The Government of India vide Notification S.O. 1205 (E) dated 24.03.2020 (“Notification“) raised the minimum #threshold of #default amount to Rs. 1 Crore, from the earlier amount of Rs. 1 Lakh, in order to trigger Corporate Insolvency Resolution Process (“#CIRP“) under the Insolvency and Bankruptcy Code, 2016 (“#IBC“).


To read more, please visit the link below:


http://www.theindianlawyer.in/blog/2020/12/16/nclt-holds-enhanced-minimum-threshold-of-rs-1-crore-not-applicable-to-defaults-before-pandemic/


#nclt #ibc #default #debt #pandemic #court

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