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Raising threshold for insolvency: Good for NCLT, bad for smaller creditors

Experts are of the view that a substantial increase in threshold might affect certain sectors severely

Akanshha Agarwal 

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).

While the Insolvency Law Committee has recommended increasing the threshold to Rs 5 lakh, the government is reportedly looking at raising the bar to Rs 50 lakh. Experts are of the opinion that any increase in threshold needs a twofold analysis. ...

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First Published: Sun, March 15 2020. 21:19 IST
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