March 24 Notification on enhanced minimum threshold of Rs 1 crore for IBC proceedings prospective in nature: NCLT

March 24 Notification on enhanced minimum threshold of Rs 1 crore for IBC proceedings prospective in nature: NCLT
NCLT

The National Company Law Tribunal, Chennai Bench (NCLT) has held that the March 24 Notification issued by the Central Government on enhanced minimum threshold of Rs 1 crore for initiation on insolvency proceedings is prospective in nature. (NCLT Chennai IBC Order dt. 02.06.2020 - IA 341 of 2020 - Arrowline v. Rockwell)

NCLT
Threshold of default under Section 4, IBC for initiation of insolvency proceedings raised to Rs 1 crore [Read Notification]
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