Section 4: Application of this Part-II (Insolvency Resolution and Liquidation for Corporate Persons)

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The Insolvency and Bankruptcy Code, 2016

Part-II Insolvency Resolution and Liquidation for Corporate Persons

Chapter-I Preliminary

Section 4: Application of this Part-II

*4. (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 notification1, specify the minimum amount of default of higher value which shall not be more than one crore rupees.


Reference

*This shall come into force w.e.f. from 01.12.2016.

1. Increase Limit to Rs. 1 crore vide MCA Notification S.O. 1205(E) dated 24.03.2020.

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