Insolvency and Bankruptcy Code, 2016.
PART II
INSOLVENCY RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS
CHAPTER I
PRELIMINARY
Section 4. Application of this Part. –
(1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is one lakh rupees:
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.
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REGD. NO. D. L.-33004/99
The Gazette of India
CG-DL-E-24032020-218898
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
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No. 1076] NEW DELHI, TUESDAY, MARCH 24, 2020/CHAITRA 4, 1942
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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.
1593 GI/2020.
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