Centre specifies Rs 1 crore as the amount under S. 4 of IBC for initiation of Insolvency Proceedings

S.O. 1205(E).—In exercise of the powers conferred by the proviso to section 4 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby specifies one crore rupees as the minimum amount of default for the purposes of the said section.

Ministry of Corporate Affairs

[Notification dt. 24-03-2020]