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MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 24th March, 2020
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.
[F. No. 30/9/2020-Insolvency]
GYANESHWAR KUMAR SINGH, Jt. Secy.
FAQ :
This notification specifies the minimum amount of default for the purposes of section 4 of the Insolvency and Bankruptcy Code, 2016.
The new minimum amount of default specified is one crore rupees.
This notification is related to the Insolvency and Bankruptcy Code, 2016.
This notification was issued on the 24th March, 2020.
This notification was issued by the Ministry of Corporate Affairs, Central Government.
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Notification No : CG-DL-E-24032020-218898Published in Corporate Law