The Insolvency and Bankruptcy Code, 2016, (IBC) currently prescribes the threshold of Rs 1 lakh for invoking insolvency proceedings under the law. The Ministry of Corporate Affairs, however, has been for some time considering increasing the threshold requirement to reduce the number of filings before the National Company Law Tribunal (NCLT).
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First Published: Sun, March 15 2020. 21:19 IST