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<h1>Minimum default threshold for corporate insolvency determines applicability of insolvency and liquidation, with government-authorised upward adjustments.</h1> Section 4 makes Part II applicable to insolvency and liquidation of corporate debtors where the minimum default meets the prescribed threshold; the Central Government may, by notification and subject to an upper limit, specify a higher minimum amount of default and may similarly specify a higher minimum for matters relating to the prepackaged insolvency resolution process under Chapter III-A.